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Ironshore enters yacht insurance sector

Bermuda21-02-2014Insurance News, Specialty

Ironshore has appointed James Bishop, Jr. to lead its team which will provide cover for high-end pleasure craft, yachts and mega yachts on a global basis.

Guy Carpenter launches new cyber unit

Europe, North America21-02-2014Reinsurance News, Specialty

Guy Carpenter has launched a new specialty practice that will focus on the development and delivery of innovative cyber reinsurance solutions.

BMS appoints US president and CEO

North America21-02-2014Reinsurance News

Specialist insurance group BMS Associates has appointed Andrew Bustillo as president and chief executive officer of its US-broking arm, BMS Intermediaries.

Net income up 44 percent for Global Indemnity

21-02-2014Insurance News, Reinsurance News

Global Indemnity reported a 44 percent increase in net income in 2013 of $61.7 million compared with $34.8 million in 2012.

Asian business boosts Skuld’s P&I renewals

Asia Pacific21-02-2014Insurance News, Specialty

Marine insurer Skuld reported 13 percent premium growth in the 2012/13 P&I renewals due to new business gained and the expansion of its product portfolio.

US freeze costs Allstate $277 million

North America21-02-2014Insurance News, Property cat

Following a series of freezing windstorms in the US last month, America’s largest publicly held personal lines insurer Allstate estimated that natural catastrophe losses for January 2014 had reached $277 million, pre-tax ($180 million after-tax).

Maiden reports record net income

North America21-02-2014Insurance News, Reinsurance News

Maiden Holdings reported record net income attributable to common shareholders of $87.9 million in 2013, compared with $46.5 million in 2012. The company’s combined ratio also improved to 97.5 percent in 2013, compared with 99.5 percent in 2012.

Swan Re: investors aren’t spooked by SAC Re

Bermuda21-02-2014Reinsurance News

The fate of SAC Re isn’t frightening investors away from the hedge fund-backed reinsurance model, says Randall Swan, chairman of the board at Swan Re.

Hardy appoints CEO

Europe20-02-2014Insurance News, Reinsurance News

Re/insurance underwriter Hardy Underwriting Agencies (Hardy) has appointed David Brosnan as chief executive. Brosnan has also been appointed to serve on the Hardy Board of Directors.

Saturated soil could lead to further flooding says Guy Carpenter

Europe20-02-2014Insurance News, Property cat, Reinsurance News

Saturated ground in Europe could lead to further flooding says Guy Carpenter in its Europe, Middle East And Africa Catastrophe Review, 2013.

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