Adrian Ladbury (mailto:aladbury@BIEurope.com)
LONDON?Insurance and reinsurance buyers worldwide can look forward to another year of softening prices, terms and conditions in all but the most catastrophe exposed lines of business, according to a veteran Lloyd?s of London executive. Brian Caudle, chairman of Advent Capital (Holdings) Ltd....
BEIJING?China Reinsurance (Group) Co., the country's largest reinsurance company, said this week that its restructuring plan that will pave the way for a public listing has been approved by the Chinese government. The new company will be known as the China Reinsurance Group Co. Ltd. and held...
LONDON?The U.K. Financial Services Authority today said that it has seen ?significant and encouraging progress? in the growth of risk management culture within the U.K. nonlife and life insurance sector as a result of its recently introduced Individual Capital Adequacy Standards framework. But...
FRANKFURT, Germany?The Frankfurt, Germany arm of Fitch Ratings has changed the outlook for the German life and nonlife insurance market to negative from stable and believes that there will be more downgrades than upgrades in the sector in the next 12 to 18 months. Fitch expects the soft cycle...
COLOGNE, Germany? The historic Gerling insurance group no longer exists. On Monday, Gerling Konzern Allgemeine A.G., the main non-life operating company of the Cologne-based family held insurance group, was formerly merged with HDI Industrie Versicherung A.G. in Hanover to create HDI-Gerling...
MONTE CARLO, Monaco?Munich Reinsurance Company has warned governments that should they decide not to back state terrorism insurance pools, they cannot expect it to step in to fill the capacity gap. Torsten Jeworrek, member of Munich Re?s board of management and chairman of its reinsurance...
MONTE CARLO, Monaco?Munich Reinsurance Co., the German reinsurance giant, has unveiled plans to further expand the group?s primary underwriting business and create a new business stream in so-called enterprise risks for global industrial companies. Torsten Jeworrek, member of the Munich Re...
MONTE CARLO, Monaco?The reinsurance sector is amidst a dramatic ?revolution? in the way it operates because of changing capital adequacy rules that is not generally appreciated, according to Denis Kessler, chairman and chief executive of Paris-based reinsurance group SCOR S.E. Mr. Kessler...
BERLIN, Germany?The fate of EXTREMUS A.G., Germany?s terrorism insurance vehicle, still hangs in the balance, according to the head of the country?s insurance buyers? association. Ralf Oelssner, head of the Deutscher Versicherungs-Schutzverband e.V., led a delegation that included...
WIESBADEN, Germany? The insurance pool for German auditors and tax advisers has told Business Insurance Europe that it will strongly resist efforts by the national cartel office to force it to exit the market for all but the so-called big four firms at the end of 2008. A spokesman for the...
