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Florida comp insurers post underwriting profit Workers compensation insurers showed a second consecutive year of underwriting profit during 2007, posting a 99% combined ratio for the year, according to NCCI Holdings Inc.’s annual report. NCCI’s State of the Line market analysis, released Thursday, also shows that although claims frequency ...
Aon Re buys Peruvian reinsurance broker LIMA, Peru—Aon Re Global has purchased Lima, Peru-based reinsurance intermediary Cosegur Re, the Chicago-based unit of Aon Corp. said Thursday. Terms of the deal, which closed May 2, were not disclosed. Cosegur Re founders Jose Antonio Cadarso and Juan Diego Cadarso will join the Aon Re Peru ...
Willis opens Malta captive manager LONDON—Willis Group Holdings opened a captive management office in Malta on Friday. The London-based insurance broker said its expansion into Malta is due to growing captive insurance and third-party underwriter opportunities, as Malta’s financial industry grows. The captive manager will operate ...
AIG sees market affecting mortgage units into 2009 NEW YORK (Reuters)—American International Group Inc. sees weak market conditions in the U.S. residential market affecting its operating results at two mortgage units into 2009, its chief executive said on Friday. "Operating results of these business have been and will likely continue to be ...
Benfield opens office in San Juan SAN JUAN, Puerto Rico—Benfield Group Ltd. has opened an office in San Juan, Puerto Rico. The London-based reinsurance and insurance broker said it had been serving insurers, reinsurers, independent brokers and managing general agents in Puerto Rico for more than 30 years. Andres Piccinoni has ...
AGCS premiums down in first quarter MUNICH, Germany—Allianz Global Corporate and Specialty, a commercial lines arm of Germany's Allianz S.E., saw gross premiums written decline by 7.6%, to €863 million, in the first quarter of 2008, compared with the same period last year, the company said Friday. The decrease was caused ...
