LIU expands European platform 15 June 2009 Liberty International Underwriters Europe (LIU Europe), a division of Liberty Mutual Group, said it has appointed Mike Nukk to lead the expansion of its marine portfolio in Europe and the Middle East.
Texas lawmakers decide not to buy reinsurance for 2009 15 June 2009 The Texas Windstorm Insurance Association may be leaving itself open to massive losses from hurricanes after deciding against buying reinsurance for this year’s program.
Validus shares fall following IPC decision 12 June 2009 Shares in Validus, the Bermudian (re)insurer locked in a takeover battle with Max Capital for island rival IPC Holdings, were off nearly 4% in New York following a decision by IPC shareholders to turn down a merger with Max.
Stooke to leave Catlin 12 June 2009 Chris Stooke is to step down from his role as chief financial officer at Catlin Group to pursue "new challenges".
Major European account to stay with Aon Benfield - sources 12 June 2009 European insurance giant Eureko has renewed its major reinsurance account with Aon-Benfield, Reinsurance understands, in a deal understood to be worth up to €3.5m in revenue to the broker.
AM Best downgrades Puerto Rican reinsurer 12 June 2009 US ratings agency AM Best downgraded the financial strength rating to B+ (Good) from B++ (Good) and the issuer credit rating to “bbb-” from “bbb” of Puerto Rican life reinsurer Popular Life Re. The outlook for both ratings is stable.
