• X
  • LinkedIn
  • Email
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
  • Email
Insurance Insider is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

April 2007/1

  • Bermuda-based hedge fund Nephila Capital has tied up a deal for its managed Nimbus Weather Fund (NWF) to back weather contracts sold by WeatherBill, an online weather risk management trading platform.
  • Steering Marsh and McLennan Companies (MMC) through the difficult post-Spitzer years has led to rich rewards for the company's president and chief executive Michael Cherkasky, who received total compensation valued at $8.65mn last year.
  • Last week's (27 March) closing of the Equitas deal with Berkshire Hathaway has already begun to pay dividends for Lloyd's, with Fitch Ratings upgrading its insurance financial strength rating on the Society from A to A+.
  • As capital pressures continue to ease for reinsurers, rates in the US are likely to drop by up to 20 percent at 1/6 and 1/7 renewals in some lines, according to a report by broker Aon Re.
  • Benfield Group's dedicated approach to rebuilding its facultative operations has seen the reinsurance specialist swoop for Paragon International Insurance Brokers Ltd's Julian Hall, Insider Week can reveal.
  • New York attorney general Andrew Cuomo has received the go-ahead for a bid-rigging lawsuit against Liberty Mutual Group companies from the state's Supreme Court.
  • Lloyd's insurer Heritage Underwriting Agency announced that its gross premium income grew 82 percent last year following a change in strategy to take a bigger share of its managed underwriting.
  • Lloyd's chairman Lord Levene was quick to acknowledge the part an "exceptionally low level of catastrophes" played in strong performance from insurers operating on the platform that enabled it to report pre-tax 2006 profits of £3.7bn for the market.
  • A number of former Wellington Underwriting staff continued to head out of the Catlin Group last week with David Foreman’s recently launched Ark Syndicates believed to be a likely destination for some.
  • European reinsurer Württembergische Versicherung AG (W&W) has been assigned an A- rating from AM Best just months after being downgraded by Standard & Poor's (S&P).
  • Proposed Lloyd's start-up Leinster Underwriting Services has missed the 1/4 renewals after failing to raise the £180mn in capital its business plan had outlined in time.
  • Shares in Bermudian Flagstone Reinsurance Holdings Ltd faltered in early trading Friday (30 March) following its listing on the New York Stock Exchange.