Analysts are expecting AIG, the largest insurer in the US, to post a loss in the third-quarter of 2008.
According to a report by Bloomberg, financial services group Credit Suisse is predicting that mortgage writedowns could result in a $2.41 billion loss for the group in the three months to the end of September.
The insurer’s […]

Berkshire Hathaway has told a Kansas-based subsidiary to stopped selling private bank deposit insurance above the amount guaranteed by the US government.
The move has led to speculation that Berkshire Hathaway founder, Warren Buffett, is worried about further bank failures.
Kansas Bankers Surety (KBS) has withdrawn its bank deposit guarantee bonds for new customers; the bonds backed […]

It would seem that many Britons still regard home insurance as a luxury rather than a necessity.
Recent research from financial website, Fairinvestment.co.uk, has revealed that 38% of households do not have cover for building or contents.
This alarming state of affairs exists despite serious flooding in the UK last summer and this.
Ten per cent of UK […]

Endurance Specialty Holdings has announced a number of leadership appointments for its reinsurance business catering to non-US customers.
The firm’s Zurich office is bolstered with the addition of Laurent Beauregard, Patrizio Amedeo Cassinis and Tim Griffiths.
Griffiths assumes the role of senior underwriter, and joins the firm from Guy Carpenter, bringing with him decades of industry […]

Beazley Group has stated that it is to open a new office in Munich, and has appointed Andreas Bergler to its reinsurance team.
Bergler will handle the European business that does not go through the typical wholesale channels to London.
His position and duties will mirror the strategic approach Beazley has taken to its business in the […]

Clive Cowdery has revealed plans for a ￡1 billion flotation of Resolution, a new acquisition vehicle.
The company has the same name as an earlier venture by the insurance entrepreneur: the closed life consolidator acquired by Pearl Group last year.
The initial public offering of the new Resolution is due to take place in November and […]

Keoghs has expanded its disease team with the addition of new partner Peter Kenworthy.
Kenworthy is a disease specialist, who joins the firm from DWF, where he has spent the last decade.
He brings with him 15 years of experience dealing with disease claims, and other areas such as claims of public liability and multi-track employers.
Many of […]

Aon, the global insurance broker, has stated that the top accountants in London could be underestimating the potential cost of a catatstrophe such as flooding or a terrorist attack.
This would result in them subsequently overpaying for office space in the aftermath.
Although pandemic flu has been highlighted by the National Risk Register as the greatest potential […]