Bermuda’s Premier resigns over ‘JetGate’ scandal
Bermuda Premier Craig Cannonier has resigned following ongoing criticism over his acceptance of flights and hospitality from investors.
Marsh appoints head of national corporate placement
Marsh has appointed David Bramall as head of placement within its national corporate practice, which provides risk and insurance services to corporate businesses and small and medium-sized (SME) enterprises across the UK and Ireland.
Under fire Aspen woos shareholders with presentation
As it continues to grapple with hostile overtures from Endurance, the board of under-pressure re/insurer Aspen has sought to reassure shareholders by publishing an investor presentation detailing its progress and plans for what it describes as the pursuit of an ambitious growth strategy.
Pool Re appoints non-exec director
Pool Re, the mutual reinsurer that provides terrorism cover for commercial property in the UK, has appointed Brian Bender as non-executive director.
Insurance intermediaries expect fraud to worsen
Insurance intermediaries expect the problem of fraud facing the industry to become worse over the next three to five years.
VJ Dowling fund invests in Torus and Atrium
Dowling Capital Partners, a private equity fund run by boutique investment bank VJ Dowling, has invested in the insurance operations Torus and Atrium alongside Enstar and Stone Point Capital.
S&P upgrades ACE’s core insurance units
Standard & Poor’s has upgraded the financial strength and counterparty credit ratings of ACE Limited’s core operating insurance companies to AA from AA- citing the company’s strong balance sheet and track record of superior operating performance relative to its peers.
Retro and cat rates down 20% – Blue Capital
Blue Capital Global Reinsurance Fund, the reinsurance fund managed by Montpelier Re subsidiary Blue Capital Management, said retrocessional and cat bond prices dropped by 20 percent at the start of the year on the back of competition in the market.
American Overseas enjoys rise in profits
American Overseas Group, the Bermuda holding company that writes non-standard auto reinsurance through American Overseas Reinsurance Company, enjoyed an increase in its 2013 profits thanks to positive movements in reserves related to its financial guarantee business.
AIR partners with Pana Harrison
Catastrophe modelling firm AIR Worldwide (AIR) has collaborated with Pana Harrison (Asia), a Singaporean and Lloyd's registered general insurance and reinsurance broker, to better assess and manage catastrophe risk on behalf of its clients.
