April 2007/2

QBE Limit and Markel are set for a November High Court showdown with broker Surety Guarantee Consultants Ltd (SGC) over allegations of fraud in connection with construction bonds it issued as a coverholder.

Hannover Re is planning growth in US property catastrophe business as it builds on record 2006 profits and redeploys capital freed up by the $800mn sale of its Praetorian subsidiary to QBE Insurance Group Ltd.

Italian giant Generali disappointed analysts by failing to follow some of its European rivals with a special share buyback scheme despite reporting record net profits of EUR2.4bn for 2006, a rise of 25.3 percent.

Equitas has completed its landmark reinsurance transaction with National Indemnity Company, part of Warren Buffett’s Berkshire Hathaway group, on 27 March.

Flagstone shares forge ahead after shaky start; Wurtt gets Best A- despite rival downgrade; Nephila to grow weather market; Cuomo gets go-ahead for Liberty Mutual suit...

Benfield Group’s dedicated approach to rebuilding its facultative operations following the defection of Elliot Richardson saw the reinsurance specialist swoop for Paragon International Insurance Brokers Ltd’s Julian Hall