Insurers are still seeking a universal solution to weaknesses in catastrophe bonds exposed by Lehman Brothers’ collapse, though structural improvements have helped push sales past $1 billion this year. This year’s nine catastrophe bonds have employed innovative structures to neutralize …
Marsh’s London office announced the launch of “a new project professional indemnity (PI) insurance facility for major construction projects. Designed for projects with an estimated construction value in excess of £25 million [$41.32 million], the facility can provide limits of …
A team of Willis Group Holdings has concluded that “insurers are increasingly seeing offshore wind as an attractive investment area with considerable growth potential.” The conclusion comes just ahead of the eighth annual British Wind Energy Association (BWEA) offshore wind …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Argo Re Ltd. and its U.S. subsidiaries. Best also affirmed the ICR of “bbb” of the parent holding company, …
The UK’s Brit Insurance Holdings PLC, a Lloyd’s and London market insurer, has confirmed that it has made a proposal to the board of Chaucer Holdings PLC in relation to a possible offer for the entire issued and to be …
Marsh has appointed Neil Irwin to lead the firm’s new client development across Europe, the Middle East and Africa (EMEA). He will be based in London, and will report to Chris Lay, Managing Director, Client Development and Head of Middle …
SBJ Global Risks Limited, the Lloyd’s and international insurance broker, has appointed Steve Ford and Simon Laycock as a new Binding Authority team. They join from SBJ from Aon/Benfield. Both men have over 20 years experience in the London insurance …
Standard & Poor’s Ratings Services has assigned its ‘A+’ counterparty credit and financial strength ratings to Everest Reinsurance Co. (Ireland) Ltd. S&P also said the outlook on Everest Re Ireland is stable. S&P noted that Everest Re Ireland is a …
Dallas-based wholesale insurance broker, Van Wagoner Companies, a wholly owned subsidiary of Lloyd’s broker Chesterfield Group, has appointed Simon Bancroft as executive vice president. Bancroft has more than 30 years of experience in the United States and London property and …
Morristown, New Jersey-based program manager PGI Commercial today has added a railroad protective program with coverage provided by underwriters at Lloyd’s, London. PGI was appointed by the Ark Syndicate, which leads the London market railroad protective consortium, to manage the …
