April 2007/2

Despite the misery of Kinnect the London market is continued to spawn and develop new electronic trading initiatives. The Insurance Insider assesses the options…

If, as expected, its proposed reverse merger deal with Argonaut Group successfully concludes this summer, Bermudian reinsurer PXRE will have completed a remarkable turnaround.

Our monthly column keeping check on US and EU legal and regulatory developments, in association with Sidley Austin LLP

Ruxley Ventures, the London based firm which specialises in acquiring legacy businesses, is in talks to buy a run-off unit from Italian giant Generali, The Insurance Insider understands.

Capita, the giant UK outsourcing firm, has completed the acquisition of run-off consultants Claims Management Group Ltd (CMGL) for consideration of £32mn from UK private equity firm Sovereign Capital Partners LLP.

Private equity firm to buy Alea for £162mn; Xchanging in £400mn+ IPO bid; QBE launches PI division; Royal settles student loans dispute with MBIA; Lloyd’s welcomes UK tax cut...

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 year, the UK authorities unveiled the prospect of UK ISPVs as a sign they were listening to complaints about London’s relative lack of global competitiveness. So what has gone wrong?

PRO Insurance Solutions Ltd, the proposed Scheme Manager of the WFUM Pools Scheme, has confirmed that the 14 WFUM pools scheme companies are applying to the UK High Court for sanction of the proposed schemes.

A principles-based rather than a rules-based approach not just to regulation but to running the entire industry should be embraced by the industry, according to Joe Plumeri, chairman and CEO of Willis.

Maurice "Hank" Greenberg sold another chunk of his American International Group (AIG) shares netting around $28mn last month. Greenberg sold 400,000 shares at an average price of $69.86 each, adding to the sales he made last year.

The spectre of asbestos returned to haunt reinsurance giant Munich Re as it revealed in its full annual report a $600mn strengthening of loss reserves for related claims at its US operation.