AIG sells Indian IT unit to MphasiS

Catastrophes reduce Catlin’s annual profits

International specialty property/casualty insurer and reinsurer Catlin Group Limited has reported its results for the year ended 31 December 2011. The firm reported an annual pre-tax profit of US$71m, substantially less than the US$406m it made in the preceding year. The firm incurred US$961m in gross losses from natural catastrophes, with net losses coming to [...]

Travelers extends event cancellation cover

Travelers is rolling out its Lloyd’s event cancellation cover to regional brokers, in a move that will allow more clients around the UK to access bespoke cover. The product is designed for businesses staging events such as annual general meetings, conferences, trade shows and corporate entertainment. Explaining the expansion, Travelers’ product manager, media & entertainment, [...]

Munich Re and GCube form renewables partnership

Munich Re has entered into a cooperation with GCube, which is headquartered in London and provides insurance services for renewable energy projects in wind, solar, biofuels, wave, hydro and tidal. The firm also has offices in New York and Newport Beach, California, providing construction, marine, property-casualty and liability cover tailored specifically to renewable energies projects. [...]

Towergate launches CyberProtect

Towergate has launched CyberProtect, which claims to be the first product of its kind to provide all-business protection against the misuse of computers by employees, and the theft of intellectual property. Developed in partnership with Marchant McKechnie, CyberProtect covers the costs associated with an investigation and data recovery related to the misuse of company-owned computer [...]

JLT Speciality to open Reading office

JLT Specialty (JLTS) is opening a UK regional office in Reading. The news follows last month’s announcement that the commercial broker is setting up a Nottingham office. Peter Cant, who is currently head of practice, based in JLT’s Southampton premises, will set up and run the new location. Mr Cant is currently responsible for the [...]