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...

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...

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.

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.

Heath Lambert has appointed two new staff members to its Aberdeen office as part of its Scottish expansion plans. Mark Webster has joined Heath Lambert as client service director and is responsible for delivering on the group's Service Excellence...

Russian insurer Ingosstrakh is considering an initial public offering (IPO) on the London Stock Exchange, according to reports last Friday (31 March). The move would see Russia's second largest insurer become the country's first publicly traded...

Further significant catastrophes this year could restrict reinsurers access to the capital markets, according to a report by ratings agency Standard & Poor's (S&P). The report noted that, although earnings had been poor for property & casualty...

Ratings agency AM Best has awarded a financial strength rating of A- (Excellent), with a stable outlook, to Hiscox Insurance Company (Guernsey) Limited. The agency said the rating was based on Hiscox Guernsey's "excellent risk-adjusted...

Specialist Lloyd's insurer Advent announced pre-tax losses of £74.8mn in its full-year results, which were released on 31 March. The company fell from last year's pre-tax profit of £4.5mn after suffering a £79.7mn net hit from hurricanes Katrina...