April 2006/1

Stone Point Capital, the former private equity arm of MMC, has agreed terms to acquire the business of AXA Re and form a new reinsurer, Paris Re. AXA Re’s parent AXA SA will take a stake of between 5 and 10 percent in Paris Re Holdings Ltd...

Bermudian giant XL Capital is to float its financial guaranty business in an initial public offering (IPO) on the New York Stock Exchange, the (re)insurer revealed in a statement today (7 April). Funds raised will be used to boost capital and to...

The G6 group of Lloyd's insurers has today (5 April) announced that it has agreed new electronic processes with four major brokers using the internationally recognised ACORD data standards.

UK-listed broker Jardine Lloyd Thompson Group plc (JLT) has today (5 April) revealed that Dominic Collins, executive chairman of its JLT Risk Solutions division, has resigned after more than 20 years with the company. The move follows plans for...

Ratings agency Standard & Poor’s (S&P) today (5 April) announced that it has revised its outlook on the reinsurance sector from negative to stable.

Aviation underwriting agency Augsburg Re is set to become a fully-fledged reinsurer if it completes a planned fundraising, The Insurance Insider can exclusively reveal. The company, which is headed by the experienced aviation underwriter...

Shares in run-off (re)insurance group Alea Group Holdings rose this morning after the company announced better than expected full-year results.

Thomas Tizzio has retired from American International Group (AIG) after 38 years with the company. Tizzio was most recently senior vice chairman of General Insurance and has also held the positions of senior vice president, Reinsurance, president of...

Scheme creditors of collapsed Australian insurer HIH Group approved a scheme of arrangement at a vote in Sydney on 29 March, it was announced by liquidators KPMG. HIH group was the second largest general insurance group in Australia and became the...

Lloyd's insurer Heritage Underwriting Agency closed its 2003 year of account with both of its syndicates ending ahead of previous forecasts. Syndicate 1200 closed the year with profits of 28 percent on a capacity of £80mn while Syndicate 3245 closed...

Lloyd's is to launch its new Chinese onshore reinsurance operation in Shanghai, the Society announced in a statement today (3 April). The move follows approval from Chinese president Hu Jintao last November for Lloyd's to set up as an onshore...

Is the UK's system of financial regulation a help, or a hindrance, to London's competitiveness with other global (re)insurance markets? Have your say with The Insurance Insider's 2006 London Market survey where the initial feedback is that...