News – Page 423
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Swiss Re: Nat cats on the rise
Catastrophes cost $70bn in economic losses and $28bn in insured losses in 2007
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Online onlyTokio Marine completes Kiln acquisition
Announcement follows approval of regulator on 10 March
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Amlin Bermuda to replace underwriter
Rob Wyatt will replace John Andrews as underwriting director before 2009
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Subprime sees Ballantyne Re downgraded again
Scottish Re's sidecar is downgraded and placed on rating watch negative; significant subprime exposures warns Fitch
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Scottish Re delays results filing
The delay is due to subprime assessments and the life reinsurer's change in strategic focus
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Online onlyBrit profits and premiums up in 2007
“Brit is built to weather storms and is positioned for outperformance,” says Douetil
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Online onlyBuffett leapfrogs Gates to become world's richest man
Berkshire Hathaway boss and acclaimed Oracle of Omaha Warren Buffett is worth $62bn
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Enstar completes AMP run-off buyout
Bermuda-based Enstar bought AMP Limited's Australian-based closed re/insurance operations for $417m
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Online onlyAIR: Emma losses could reach EUR1.3bn
Germany and Austria are expected to account for more than half the losses
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Ambac to remain on negative watch
Fitch believes it will be very difficult to stabilise the ratings of Ambac despite $1.5bn capital raising
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Scottish Re waves goodbye to another CEO
George Zippel to leave in July; board feels his contribution is "no longer considered viable" given subprime exposures
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Technology first for Aspen Re in Bermuda
Aspen Re has become the first Bermudian insurer to implement electronic accounting and settlement
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XL bond insurers on review for downgrade
The securities that are guaranteed or "wrapped" by the insurers could also be downgraded, warns Moody's
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Online onlyBermuda thriving amid turmoil, says Fitch
Rating agency considers developing a separate rating outlook for Bermuda
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MMC vice chairman to retire
Mathis Cabiallavetta will join the board of directors of Swiss Re
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Fitch upgrades Arch Capital and Arch Re
Upgrades reflect its consistently strong underwriting profitability relative to its peers
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Marine & energy promotion at Aspen
Simon Mason is named deputy head of marine & energy, International Insurance
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Online onlyWindstorm Emma causes damage across Europe
Strong winds caused damage and disruption in Germany, Austria, Poland and Czech Republic, says RMS
