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  • Cigna appoints new CFO

    02 September 2010

    Cigna Corporation, the US based global health service and financial company, has appointed Thomas McCarthy, Cigna’s vice president and treasurer, to the position of acting chief financial officer, effective immediately. More »

  • Metropolitan posts H1 results

    02 September 2010

    South African insurer, Metropolitan, has posted results for the first half of 2010, Reuters reports. The firm’s profit has increased by 13% in the first six months of this year. More »

  • QBE subsidiary acquires US specialty firm

    02 September 2010

    Sterling National Corporation, a subsidiary of Australian insurance firm QBE, has acquired Seattle Specialty Insurance Services. More »

  • Standard Life to axe 500 jobs

    02 September 2010

    Standard Life will lay off 500 employees as part of its CEO, David Nish’s efforts to cut costs, Bloomberg reports. More »

  • Ping An boosts Shenzhen bank stake

    02 September 2010

    China’s second largest insurer, Ping An Insurance, will combine its bank unit into Shenzhen Development Bank (SDB) in a deal valued at about $4.3bn. More »

  • Low premiums to expose reinsurers: Fitch

    02 September 2010

    The reinsurance sector will be exposed to insured loss from the Atlantic storm season as their reserve capital was used to offset low premiums, according to Fitch Ratings, Reuters reports. More »

  • FEATURE: Thiele earns right to be irresponsible

    01 September 2010

    Patrick Thiele is leaving PartnerRe after 10 years. He leaves his successor, Costas Miranthis, a much different firm to the one he inherited. More »

  • Gallagher acquires employee benefits broker

    01 September 2010

    Arthur J Gallagher & Co, the international insurance brokerage and risk management services firm, has acquired Old Greenwich Consulting Group located in New York. More »

  • European insurers' outlook still negative

    01 September 2010

    European insurers' first half reporting data, which represented a continuation of sales and profitability levels witnessed during 2009, combined with the challenges faced by these insurers for the remainder of 2010, reinforce the negative outlook on the wider European insurance industry, according to Moody's Investors Service. More »

  • Brown & Brown acquires advocacy services

    01 September 2010

    US broker Brown & Brown has acquired all the assets of Crowe Paradis and two related entities. More »

  • QBE denies search for new CEO

    01 September 2010

    QBE has denied the truth of media reports and market speculation that the Australian insurer is looking to replace its CEO, Frank O’Halloran. More »

  • Moody’s adjusts Glacier Re cat bonds outlook

    01 September 2010

    Following the announcement that Glacier Re is going to run-off, Moody's Investors Service has changed its outlook on the Glacier Re sponsored Nelson Re Class H and Class I catastrophe bonds to negative and Class G still at Ca (sf) developing. More »

  • Losses from Earl between $50m and $150m

    01 September 2010

    As Hurricane Earl approaches the east coast of the US, AIR Worldwide has estimated that already insured losses from Hurricane Earl’s passage near the northern Leeward Islands earlier this week are between $50m and $150m. More »

Reactions from the global insurance market

News analysis, features and opinion

  • FEATURE: Thiele earns right to be irresponsible

    01 September 2010

    Patrick Thiele is leaving PartnerRe after 10 years. He leaves his successor, Costas Miranthis, a much different firm to the one he inherited.

  • FEATURE: Coping with shocks to the system

    31 August 2010

    Globalisation has opened up a dazzling amount of opportunity for the business world. But it has also produced an unprecedented level of risk for the insurance industry to deal with.

  • PROFILE: Kiln turns up temperature on growth

    30 August 2010

    Now firmly established in the Tokio Marine fold, Kiln is expanding in Asia and elsewhere, according to its CEO Charles Franks.

  • COMMENT: Hurricane Katrina five years on

    27 August 2010

    With the fifth anniversary of Hurricane Katrina hitting New Orleans on August 29, Reactions' editor Michael Loney reflects on how the insurance and reinsurance market has changed since then.

  • COMMENT: Solvency II, The Fifth Element

    25 August 2010

    The approach of Solvency II has a classic sci-fi feel to it, says Reactions' contributing editor Garry Booth. And now that attention is being focused on the fifth quantitative impact study, QIS 5, an insurance remake of the cult sci-fi movie The Fifth Element is in pre-production.

  • FEATURE: Sitting on a tiny reserving cushion

    20 August 2010

    Reserve releases have helped prop up the US property/casualty industry’s results. But releases are running out and a period of reserve deficiencies lies ahead.

  • ANALYSIS: RSA's “bold move” unlikely to work

    17 August 2010

    Aviva and analysts alike do not believe the value of the offer adequately recognises the fact that Aviva is a leading general insurance business in the UK and Ireland, and the number two player in Canada.

  • The July/August issue of Reactions is online

    04 August 2010

    The July/August 2010 issue of Reactions is now online. Click through to read a selection of articles.

  • FEATURE: IASB proposes accounting overhaul

    17 August 2010

    The overhaul of accounting standard proposed in the IASB’s recent exposure draft would be a pain for insurers to comply with. But the benefits outweigh the inconvenience.

  • COMMENT: A revolutionary holiday reveals lessons for insurers

    12 August 2010

    Even when he is on vacation, Reactions’ contributing editor Garry Booth cannot help but think about the implications for the insurance industry.

  • ANALYSIS: AIG’s results show signs of stability

    10 August 2010

    AIG's underlying insurance operations show continued signs of stability, which bodes well for the troubled insurer. But analysts remain concerned about the impact of the government’s exit and the company’s recapitalisation efforts.

  • COMMENT: Bermuda not yet the weakest link

    04 August 2010

    Bermuda is not going away but it is under threat, says Reactions' editor Michael Loney.

  • Legal Analysis: UK Bribery Act

    04 August 2010

    The new UK Bribery Act (the Act), which will come into force in April next year, is designed to provide a more effective framework for the relevant authorities to bring the force of the law to bear on bribery.

Latest News by Sector

North America

  • Low premiums to expose reinsurers: Fitch

    02 September 2010

    The reinsurance sector will be exposed to insured loss from the Atlantic storm season as their reserve capital was used to offset low premiums, according to Fitch Ratings, Reuters reports.

Casualty/liability

  • US P/C insurers' earnings down, capital solid

    30 August 2010

    Second-quarter 2010 earnings for US publicly traded property/casualty insurers were down, largely as a result of catastrophe losses, but capital positions remain solid, according to Moody's Investors Service.

Bermuda

Property-catastrophe

  • Low premiums to expose reinsurers: Fitch

    02 September 2010

    The reinsurance sector will be exposed to insured loss from the Atlantic storm season as their reserve capital was used to offset low premiums, according to Fitch Ratings, Reuters reports.

Europe

  • Standard Life to axe 500 jobs

    02 September 2010

    Standard Life will lay off 500 employees as part of its CEO, David Nish’s efforts to cut costs, Bloomberg reports.

Financial management

  • Ping An boosts Shenzhen bank stake

    02 September 2010

    China’s second largest insurer, Ping An Insurance, will combine its bank unit into Shenzhen Development Bank (SDB) in a deal valued at about $4.3bn.

Lloyd's and London Market

  • Omega Insurance posts H1 loss

    01 September 2010

    Lloyd's of London insurer Omega Insurance has recorded a pre-tax loss of $34.2m in the six months to June 30, a decline from a profit of $22.9m a year earlier, The Financial Times reports.

Legal and regulation

Poll

How big would insured catastrophe losses this hurricane season have to be to move reinsurance pricing up?

$0-15bn
7%
$15bn-$30bn
12%
$30bn-$50bn
37%
$50bn-$75bn
32%
$75bn-$100bn
7%
>$100bn
5%