Sarah Veysey (mailto:SVeysey@BIEurope.com)
BRUSSELS, Belgium?The Comité Européen des Assurances said it will facilitate an exchange of views between the European insurance industry and the European Commission on the findings of the Commission?s final report into competition in the business insurance sector. That report,...
LONDON?The London-based Assn. of Insurance and Risk Managers has updated its guide to directors and officers insurance buying. AIRMIC said the newly published guide takes into account changes, such as the 2006 U.K. Companies Act, which have taken place since the original guide was written in...
MONTE CARLO, Monaco?A new company to manage insurers? and reinsurers? mature or discontinued liabilities was launched at the annual meeting of reinsurers in Monte Carlo, Monaco this weekend. London-based Affinia Capital Group is headed by Amanda Atkins, former chief financial officer of Alea...
ZURICH, Switzerland?Swiss Reinsurance Co. and the Earth Institute at Columbia University in New York have designed weather derivatives contracts to protect smallholder farmers in villages in Ethiopia, Kenya and Mali against drought-related livelihood risks. Swiss Re said in a statement that...
LONDON?London-based Canopius Group Ltd. has launched an operation in Hamilton, Bermuda. The operation will comprise Canopius Underwriting Bermuda Ltd., which will write business on behalf of Lloyd?s of London syndicate 4444, and Canopius Bermuda Ltd., a class 3 reinsurance company with initial...
PARIS?SCOR S.E. has named its new executive committee and outlined its organizational structure following the company?s takeover of Converium Holding Ltd. The committee is headed by Denis Kessler, group chairman and chief executive officer of Paris-based SCOR, and comprises: Uwe Eymer, CEO of...
LONDON?A.M. Best Co. Inc. has downgraded its syndicate rating of Ascot Underwriting Ltd.?s Lloyd?s of London syndicate 1414 to A from A. Oldwick, New Jersey-based Best said the action followed the cancellation by American Home Assurance Co., a member company of New York-based American...
PARIS?SCOR S.E. Monday outlined version two of its ?Dynamic Lift? plan, following the company?s takeover of Zug, Switzerland-based Converium Holding Ltd. Last week, at an extraordinary general meeting, Converium?s named was changed to SCOR Holding (Switzerland) Ltd. and a new board was...
LONDON?The subprime investment crisis is not likely to have a large effect on the global reinsurance market, according to Fitch Ratings Ltd. in London. If the current problems cause a wider lack of confidence in investment markets, then there could be some impact, but overall reinsurers?...
ZUG, Switzerland? PARIS RE Holdings Ltd. posted profit of $131 million for the first half of 2007. The Zug, Switzerland-based reinsurer said it suffered combined gross losses of about $90 million from Windstorm Kyrill and U.K. flooding during the first half of the year. PARIS RE, which was...
