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  • Following protracted – but eventually successful – attempts to gain PRI board support for its takeover bid, Brit was pleased to announce last Friday the swift unconditional shareholder acceptance of its all share Offer.
  • Benfield, the world’s third largest reinsurance broker, will distribute listing particulars to potential City investors tomorrow (Wednesday 28 May) valuing the management owned firm at around £650mn.
  • Defiant London market contingency underwriters scored a victory last week in the UK High Court against claims by the insurer of Atletico Madrid, a Spanish football club, that it should be compensated for relegation.
  • Franchise Board member Stephen Catlin has relinquished his duties as active underwriter on Lloyd’s Syndicate 2003, handing the reins to Paul Brand, his deputy of the past 12 years.
  • AlphaStar – the firm trying to rise from the ashes of Stirling Cook Brown (SCB) – has landed itself in hot water with Nasdaq for late filing violations.
  • Bermuda based Allied World Assurance Holdings announced last Wednesday the opening of the London underwriting office of its Irish insurance subsidiary, marking a further step in its rapid expansion. Allied World Assurance Company (Europe) Limited (AWAC-E)
  • Investors' enthusiasm for the Lloyd's sector is not unlimited, as Creechurch Group’s decision to post-pone plans to float on AIM proves. Earlier this year, the Lloyd's based insurer appointed advisors Hoare Govett to seek investors prepared to back a £
  • May was a month to remember for Royal & Sun Alliance (R&SA) as the UK’s second largest domestic non-life insurer brushed off a High Court defeat to successfully float its rebranded Australasian operation Promina and beat expectations with a strong set of
  • Gary Izatt of the Alphabet Group looks at the effect new FSA requirements will have on managing agencies and the Society of Lloyd’s The next few years will see fundamental change sweep through the Lloyd's community as the Financial Services Authority
  • The swathe of corporate collapses has cost Lloyd’s, and its Central Fund reinsurers, almost £600mn in the last two years. In the last year alone, Lloyd’s paid out £465.5mn on behalf of corporate capital investors who flocked to the market in the late