Reactions - Global Insurance

Max Capital and Harbor Point CEOs on merger

12 March 2010

The merger of Bermudian firms Max Capital Group and Harbor Point has been termed a merger of equals. Reactions spoke to the CEO’s of the two companies and an analyst to get the perspective from all sides on what the future holds for the combined company Alterra Capital Holdings. More »
9/11 captive makes $657m settlement

12 March 2010

The WTC Captive Insurance Company has announced a settlement with attorneys for more than 10,000 plaintiffs claiming injuries related to the rescue, recovery and debris removal operations following the September 11 2001 terrorist attacks. More »
Flagstone Re expects $50m quake exposure

12 March 2010

Flagstone Reinsurance Holdings, the global reinsurance and insurance company, has announced its preliminary estimate of claims relating to its exposure to the earthquake in Chile is $50m net of reinstatement premiums and retrocession. More »
AIG Nan San resolution pushed back to June

12 March 2010

The stalled sale of American International Group’s (AIG) Taiwan life unit may not be resolved until June amid concerns over funding, Reuters has reported More »
Fed to bear MetLife’s Alico deal losses

12 March 2010

The Federal Reserve Bank of New York and AIG have agreed to take on $450m in losses as part of the sale of American Life Insurance Company (Alico) to MetLife. More »
IAG lowers 2010 margin outlook

12 March 2010

Insurance Australia Group (IAG) has slashed its 2010 insurance margin outlook to between 10.5% and 12% amid a rise in weather claims. More »
Norway’s Gjensidige plans IPO in H2

12 March 2010

Norway’s Gjensidige is looking to unveil an initial public offering in the second half of 2010. More »
Allianz Indonesia targets $544m in premiums

12 March 2010

Allianz Indonesia is aiming to achieve a 16% increase in the total premiums in 2010. The insurer is targeting the premium amount to reach to about $544m. More »
Russia to toughen insurance rules

12 March 2010

Russia will tighten its licensing and merger regulations for the insurance industry, Reuters reports. Companies will be required to inform the regulator while buying up to 1% of an insurer. More »
Platinum estimates cat loss of $85m in Q1

11 March 2010

Platinum Underwriters Holdings, the Bermudian reinsurance company, has announced an initial loss estimate from first quarter 2010 catastrophe events to date of about $85m. More »
Scor joins the EuroStoxx Select Dividend 30

11 March 2010

French reinsurer Scor has been added to the EuroStoxx Select Dividend 30 index. More »
Fortis fined by Dutch regulator

11 March 2010

Fortis has been fined Eu576,000 ($787,543) by Dutch regulator, AFM, for downplaying its solvency problems and withholding share price information. More »
Chile hit by two large aftershocks

11 March 2010

On Thursday, March 11 two large aftershocks of the Mw8.8 Chile earthquake have struck the Libertador O’Higgins region of central Chile, reports the RMS Reactions Catastrophe Centre. More »
Chartis appoints Euro CEO for Solvency II prep

11 March 2010

US insurer Chartis has announced Alexander Baugh will assume the newly created position of president and CEO of Chartis Europe Holdings. More »
Zurich appoints Asia-Pac and Middle East CFO

11 March 2010

Zurich Financial Services Group has announced the appointment of Pascal Perritaz to the position of chief financial officer of Asia-Pacific and Middle East (APME), effective April 1 2010. More »
Omega reports full year profit of $43.6m

11 March 2010

Omega Insurance Holdings, the international insurance and reinsurance group, today announced a full year profit for the year of $43.6m compared with $22.2m in 2008. More »
Hannover Re posts “pleasing” result for 2009

11 March 2010

Hannover Re said Thursday that group net income increased by Eu858.2m ($1.2bn) to Eu731.2m in 2009; the largest net income in the group's history. More »

Reactions from the global insurance market

News analysis, features and opinion

ANALYSIS: Benmosche confident AIG will make it following AIA and Alico deals

10 March 2010

With the news that AIG is selling Alico to MetLife and AIA to Prudential, Reactions assesses how far AIG still has to go to pay off its debts to the US government.
Economic uncertainty strengthens fac offering

08 March 2010

Fac players are bullish about their business offering in the uncertain economic climate. But with fierce competition among brokers and softening rates there the picture is not as rosy as it may seem.
Interview: Cash confident of Endurance growth

09 March 2010

Endurance's new CEO will be looking to continue the work done under eight years of Ken LeStrange's leadership but won't be afraid to make big changes if necessary, he tells Reactions in an exclusive interview.
More premiums to stay in Asia: John Tan

05 March 2010

Asia’s reinsurance markets have weathered the global economic turmoil and a greater share of premiums is set to stay in the region, says the CEO of Asia Capital Reinsurance Group.
AIG’s $9bn Q4 loss not as bad as it seems

26 February 2010

US insurer American International Group (AIG) has reported a fourth-quarter loss of $8.9bn and warned that it may need more support from the US government.
The future for contingent commissions

22 February 2010

With Aon, Marsh and Willis now able to accept contingent commissions again, the market is abuzz with questions about which of them will accept the controversial payments, how much business this could bring and what buyers’ reaction will be.
The February 2010 issue of Reactions

18 February 2010

The February 2010 issue of Reactions is now online. Click through to read a selection of articles from the issue.

Latest News by Sector

North America

9/11 captive makes $657m settlement

12 March 2010

The WTC Captive Insurance Company has announced a settlement with attorneys for more than 10,000 plaintiffs claiming injuries related to the rescue, recovery and debris removal operations following the September 11 2001 terrorist attacks.

Casualty/liability

Max Capital and Harbor Point CEOs on merger

12 March 2010

The merger of Bermudian firms Max Capital Group and Harbor Point has been termed a merger of equals. Reactions spoke to the CEO’s of the two companies and an analyst to get the perspective from all sides on what the future holds for the combined company Alterra Capital Holdings.

Bermuda

Flagstone Re expects $50m quake exposure

12 March 2010

Flagstone Reinsurance Holdings, the global reinsurance and insurance company, has announced its preliminary estimate of claims relating to its exposure to the earthquake in Chile is $50m net of reinstatement premiums and retrocession.

Property-catastrophe

Flagstone Re expects $50m quake exposure

12 March 2010

Flagstone Reinsurance Holdings, the global reinsurance and insurance company, has announced its preliminary estimate of claims relating to its exposure to the earthquake in Chile is $50m net of reinstatement premiums and retrocession.

Europe

Max Capital and Harbor Point CEOs on merger

12 March 2010

The merger of Bermudian firms Max Capital Group and Harbor Point has been termed a merger of equals. Reactions spoke to the CEO’s of the two companies and an analyst to get the perspective from all sides on what the future holds for the combined company Alterra Capital Holdings.

Financial management

Allianz Indonesia targets $544m in premiums

12 March 2010

Allianz Indonesia is aiming to achieve a 16% increase in the total premiums in 2010. The insurer is targeting the premium amount to reach to about $544m.

Lloyd's and London Market

Max Capital and Harbor Point CEOs on merger

12 March 2010

The merger of Bermudian firms Max Capital Group and Harbor Point has been termed a merger of equals. Reactions spoke to the CEO’s of the two companies and an analyst to get the perspective from all sides on what the future holds for the combined company Alterra Capital Holdings.

Legal and regulation

Russia to toughen insurance rules

12 March 2010

Russia will tighten its licensing and merger regulations for the insurance industry, Reuters reports. Companies will be required to inform the regulator while buying up to 1% of an insurer.

Reactions from the global insurance market

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