April 2006/2

Omega Specialty Insurance Company Ltd (OSIL) has become the latest of the "Class of 2005" to be endorsed by AM Best, after the agency assigned it A- financial strength and credit ratings last Monday (3 April). OSIL was launched late last year by...

The G6 group of Lloyd's insurers has recently announced that it has agreed new electronic processes with four major brokers using the internationally recognised ACORD data standards. Initial feedback from The Insurance Insider's 2006 London Market...

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...

Castlepoint Holdings Ltd is the latest reinsurer to be formed in Bermuda after US investment bank Friedman, Billings Ramsey & Co Inc raised $265mn via a private placement for the start-up operation.

Talanx's proposed acquisition of the German insurer Gerling Group has been approved by the European Commission - but only if it spins-off its pharmaceutical liability insurance operations. Following the announcement last year of the agreed sale...

Shares in run-off (re)insurance group Alea Group Holdings rose last week after the company announced better than expected full-year results. The group posted a post-tax loss of $178.9mn for the year, however this was significantly better than the...

Analysts from Morgan Stanley predict Swiss reinsurer Converium will match rival SCOR’s revival, regaining its A rating from Standard & Poor's (S&P) later this year. David Collins, analyst at Morgan Stanley, upgraded Converium from underweight to...

The scale of the damage caused to the Lloyd's Central Fund by the failure of GoshawK's Syndicate 102 is becoming apparent with the Society paying £76mn last year to cover claims arising from the defunct insurer.