A handful of Bermuda insurers see an opportunity to expand their horizons by entering the Lloyd’s of London insurance market, but their interest of late has waned as prices of potential target companies have risen. The dearth of activity is …
John Charman, chief executive of Bermuda-based Axis Capital says insurers are caught between softening policy rates and volatile investment markets, a situation he expects to hurt returns. “You could make the case that this is the perfect storm — where …
New York Insurance Superintendent Eric Dinallo said Monday a revival of the defunct New York Insurance Exchange could happen as early as next year. Dinallo, in a telephone interview from New York, said the next 18 months was a “realistic …
New Chief Sees ‘No Sacred Cows’ in Turnaround Plan; Ready to Divest of Non-Insurance Holdings American International Group, the world’s biggest insurer [by capitalization], replaced CEO Martin Sullivan on June 15, after it suffered two quarters of record losses from …
New York Insurance Superintendent Eric Dinallo is enlisting experts to examine the possibility of reviving the New York Insurance Exchange, which was seen as the U.S. equivalent of the Lloyd’s of London market when it was founded to great fanfare …
Ariel Holdings Ltd., a closely held Bermuda-based reinsurer, has seen strong growth and a rapid rise in profits since it was formed in late 2005, but thornier market conditions are now driving it to look for alternative ways to boost …
Catastrophe bonds, which allow investors to make bets on disaster, have thrived in recent years, but a number of factors are seen cooling this obscure part of the debt market in 2008. The growth of catastrophe, or “cat,” bonds has …
When former Citigroup executive Robert Willumstad lays out his turnaround plan for insurer American International Group in September, it will likely include plans to shed some of the sprawling group’s non-insurance entities. Willumstad, who was tapped late on Sunday to …
American International Group, the world’s biggest insurer [by capitalization], replaced CEO Martin Sullivan on Sunday, June 15, after it suffered two quarters of record losses from risky mortgage bets and its share price more than halved over the past year. …
American International Group Inc. will have to surrender certain privileged documents to its former chief executive, according to a New York Court of Appeals ruling Thursday. Maurice “Hank” Greenberg, who ran AIG for nearly four decades, has been seeking the …
