April 2006/3

Lloyd’s has given distressed Bermudian insurer Quanta Capital Holdings a deadline to inject new capital into its Syndicate 4000 or face the business being closed by year-end. The Bermudian headquartered insurance group revealed in a...

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

Hopes that PXRE harboured of engineering a move for its ongoing business to Lloyd’s are understood to be fading, as it revealed on 11 April that it has requested the withdrawal of its financial strength and issuer credit ratings by the major agencies.

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...

Lloyd’s Names transferring to Hampden Private Capital following its acquisition of the CBS members’ agency face the possibility of a hike in profit commissions from 2008. Hampden Private Capital is now one of only two remaining Lloyd’s members’...

Fast-expanding Omni Whittington is close to launching a Singapore-based $50mn live underwriting Lloyd's syndicate, The Insurance Insider can reveal. According to the company, the new syndicate will write “predominantly short-tail commercial...

SVB shares fall following restructuring announcement ; Lloyd’s to launch in Shanghai ; Aviva drops Pru bid ; GoshawK shares set for suspension ; Aon PLF: P&I renewal “successful” ; Bail bond syndicate increases loss estimates ; et al...

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

London insurers are showing new enthusiam for personal accident after recent market exodus The personal accident (PA) sector is enjoying a new found popularity in the London market after falling out of fashion in the late nineties.

Despite widespread acknowledgement from Lloyd’s insurers about its difficulties, the annual venture has received support from Keefe Bruyette & Woods (KBW) analyst Chris Hitchings in a research note assessing post-Katrina capital raising in London...

Legal tit-for-tat is par for the course in the ongoing break-up between American International Group (AIG) and the company now run by its ex-CEO Hank Greenberg, CV Starr. The last month has proved no exception with action in two separate cases in...

As the hurricane season raged last year, Lloyd’s revealed that it had made a £1.38bn profit in the first half of 2005. The devastating impact of hurricanes Katrina, Rita and Wilma (KRW) was unlikely to see the performance sustained, but the Society’s...