September 2008/4
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The global (re)insurance industry has been counting the cost and revealing its total exposure to failed US investment bank Lehman Brothers, which filed for bankruptcy protection on 15 September.
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Negative trading on major worldwide insurance stocks was halted by global regulators last week in an attempt to stabilise stock markets.
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Non-life (re)insurance stocks continued to bounce back this morning (22 September) as the mooted US government financial market rescue plans and temporary bans on short selling fuelled further buying of global financials.
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American International Group (AIG) chief executive Edward Liddy was parachuted into the embattled organisation last week hoping to retain the firm’s core insurance operations.
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Ratings agencies have continued to be cautious on American International Group Inc's (AIG) prospects despite its $85bn US Government rescue on Tuesday (16 September).
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The financial markets meltdown - which has led to the rescue of American International Group, the collapse of Lehman Brothers and the effective end to the investment banking industry...
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After a week of unparalleled upheaval in the financial world, the US Federal Reserve last night effectively signalled the end of the investment bank model as it agreed to convert Morgan Stanley and Goldman Sachs Group...
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Chris Wallace the head of the commercial client practice at Marsh UK has left the company "to pursue other interests", The Insurance Insider has learned.
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HSBC Insurance Brokers has become the latest broker to access the emerging Middle East market after gaining a licence for Qatar.
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Loss estimates from Hurricane Ike have been narrowed by two leading catastrophe modelling firms, as loss adjusters continue to count the cost of the damage.
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US broker Arthur J. Gallagher has announced the acquisition of London-based underwriting agency Oxygen Insurance Managers Ltd, from its broker parent Oxygen Holdings Plc, as previously revealed by The Insurance Insider.
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Ariel Reinsurance Company Ltd has appointed Ryan Mather to the newly-created role of chief underwriter, property reinsurance.
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Market figures and commentators have offered contrasting views on the perceived market opportunities in the wake of last week's US Government led bail-out of American International Group (AIG).
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Jan-Oliver Thofern, the recently appointed head of Aon Re Germany, will lead the reinsurance broker's combined German operations once Aon Corp’s acquisition of Benfield Group is completed later this year.
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The New Jersey based run-off commutations event which takes place next month is poised to be the largest yet with around 450 delegates now expected.
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The collapse of Lehman Brothers made its impact felt in the reinsurance convergence markets last week as ratings agency Standard & Poor's (S&P) put tranches of four cat bonds guaranteed by the failed investment bank on negative watch.
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Global electronic banking payments specialist SWIFT is to provide an electronic platform for electronic data transmission to a group of major reinsurance players.
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The Insurance Futures Exchange (IFEX) revealed that from 19 September the Chicago Climate Futures Exchange (CCFE) began listing third and fourth event contracts for all its event linked futures (ELF) contracts.
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Leading shareholders in beleaguered American International Group Inc (AIG) are set to meet today in a bid to come up with an alternative plan to the $85bn federal government bail-out that would effectively nationalise the US giant.
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Aon's energy team is set to receive a boost with the appointments of two energy brokers from Jardine Lloyd Thompson.
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A lawsuit from a US pension fund filed last week against American International Group Inc (AIG) and a number of its directors - including recently deposed CEO Robert Willumstad...
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Reinsurance broker US Re Corp has appointed former Generali executive Riccardo Nicolini as senior vice president.
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Beazley Group has acquired the London-based personal accident underwriting agency Momentum Underwriting Management Ltd (MUM) for up to $37.5mn, the quoted Lloyd's insurer has revealed.
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Swiss Re is backing Galileo Underwriting LLP, a new equine bloodstock underwriting agency based in London, The Insurance Insider can reveal.
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