Swiss Re said it “estimates its overall net exposure to Lehman Brothers at approximately CHF 50 million [$46.6 million] and to American International Group (AIG) at approximately CHF 200 million [$178.5 million].” The world’s largest reinsurer indicated that was “providing …
Japan’s well-capitalized and acquisitive insurers and Australia’s top player are seen as potential buyers if reeling U.S. heavyweight AIG sells assets, analysts and fund managers said. However, China’s ambitious insurers are expected to be more cautious given market turmoil at …
A.M. Best’s preliminary assessment of the potential financial impact from Hurricane Ike concludes that, even though its passage was a “sizeable catastrophic event, the overall financial impact to both the primary and reinsurance sectors is expected to be generally manageable …
Rolf Tolle, Lloyd’s Franchise Performance Director, speaking at the International Union of Marine Insurers’ Conference in Vancouver, noted that low inflation, huge rises in commodity prices and the growth of import-export activity of emerging economies have boosted the marine and …
The Netherlands AEGON has released details of its exposure to Lehman Brothers, following its filing for Chapter 11 bankruptcy protection in the US. AEGON said it “does not hold common equity in Lehman Brothers. During 2008, AEGON has actively lowered …
Bermuda-based Flagstone Reinsurance Holdings Limited announced that its preliminary estimate of claims relating to its exposure to Hurricane Gustav are currently expected to be approximately $30 million, and exposure to Hurricane Ike are currently expected to be approximately $55 million. …
A bulletin from France’s AXA Group confirms that it “has a non material equity exposure to Lehman Brothers and American International Group (AIG).” AXA detailed its exposures as follows: — The Group holds a proprietary equity interest in Lehman Brothers …
Bermuda’s XL Capital Ltd. announced that it has appointed Fiona Muldoon as Senior Vice President, Global Treasurer. She previously served as Senior Vice President, Corporate Strategy, Development and Planning Officer for the Company. In her new role, she will report …
Oxygen Holdings Plc, a London market insurance intermediary, and Arthur J Gallagher (UK) announced the sale of Oxygen’s underwriting subsidiary, Oxygen Insurance Managers Ltd. (OIM) to Gallagher (UK), for an undisclosed sum. Gallagher’s bulletin noted: “OIM is a Financial Services …
Bermuda-based PartnerRe Ltd. announced it held $110 million face value of fixed income securities issued by Lehman Brothers Holdings Inc. The investment bank filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York …
