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March 2010
Validus Holdings, the Bermuda based provider of reinsurance and insurance, today provided an initial estimate of losses from the recent Chilean earthquake and European windstorm Xynthia.
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Windstorm Xynthia, which caused serious damage in Western Europe at the end of February, will present a substantial, though manageable, cost for the French insurance industry according to Moody's Investors Service.
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February 2010
The unsettled economy is having a big effect on claim operations in the US, according to a survey conducted by global professional services company Towers Watson.
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Reactions will be recognising the best companies, teams and individuals in the London market with our Reactions London Awards 2010 programme, and we need your help. Have your say now!
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Iron-Starr Excess Agency has appointed Lawrence Engrissei as senior vice-president, claims manager of the Bermuda-based specialty lines entity.
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A Scottish ruling leaves insurers on hook for billions.
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Insurance broker Marsh has appointed Martin Clark as UK leader of its energy claims team.
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January 2010
A federal judge has ordered Lloyd’s of London to pay for the criminal defence costs for Allen Stanford, the founder and chairman of Stanford Financial Group, and two officers in his company accused for their part in a $7bn Ponzi scheme.
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The Actuarial Profession’s UK Asbestos Working Party has updated its estimate of the future cost of UK asbestos-related claims to the insurance industry.
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White Mountains Re announced today that it intends to acquire Central National Insurance Company of Omaha from Drum Financial Corporation.
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Munich Re, the world’s largest reinsurer, has said that its losses from the earthquake in Haiti will be in the single-digit to a low double-digit million US dollars, net before tax.
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The Association of Run-Off Companies (ACR) has warned that run-off firms will be disadvantaged by the impending Solvency II directive.
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The Caribbean Catastrophe Risk Insurance Facility, a regional risk pooling facility, is preparing to make a payout to the Government of Haiti as a result of yesterday’s earthquake.
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Investors in UK life insurance run-off investment group Pearl Group are set to reject a debt swap offer by the firm, the Financial Times reports.
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The Bermuda firms tracked by reinsurance broker Guy Carpenter experienced strong recovery in their balance sheets as net income improved to $7.28bn in the first nine months of 2009, from a $440m loss in the first nine months of 2008.