August 2006/2

SCOR is facing further legal action in its long-running dispute with Highfields investment funds, the former main minority shareholder in IRP Holdings Limited, the Dublin-based quota share sidecar it established in the aftermath of 9/11.

Michael Wade continues to look at options for the proposed reinsurance venture, Tiger Re that, if successful, could see the veteran Lloyd’s figure return once again to the London market.

ICP Ltd, a proposed new investment vehicle specialising in the Lloyd’s sector, has effectively withdrawn its plan to IPO on London Stock Exchange’s Alternative Investment Market (AIM) after failing to raise sufficient funds.

Swiss reinsurer Converium continues its recovery with another improved quarterly performance, reporting net income of $62.5mn on 8 August, compared with $46.9mn in the prior-year period.

Island's (re)insurers enjoy soaring property cat rates in benign quarter, some KRW deterioration ACE sets scene with strong second quarter Bermudian-headquartered ACE Ltd revealed a strong second quarter on 25 July with net income...

GCFac, the facultative arm of reinsurance broker Guy Carpenter, has bolstered its ranks with the launch of a structured risk team headed by former Jardine Lloyd Thompson (JLT) broker John Lobek.

German reinsurer Munich Re announced half-year profits of EUR2.1bn, a leap of 143 percent from last year, driven by both strong underwriting and investment returns.

Willis Group has confirmed that it has recruited a team of Jardine Lloyd Thompson's (JLT) Financial and Professional lines brokers led by Julian Martin, the recent leader of JLT's UK D&O team.

Private equity firm Stone Point Capital LLC is close to completing the buy-out of Alexander Forbes' International Operations, The Insurance Insider can reveal.

The Competition Commission is holding an inquiry into Hampden Private Capital’s acquisition of the Names' advisory business of CBS Private Capital.

The stretched Florida insurance market has received some light relief with the announcement of a proposed state-run insurance pool along with the lowering of some of this year's hurricane predictions.

Bermudian giant XL Capital announced the latest step in a series of organisational changes on 1 August with plans to develop an integrated European platform for its reinsurance operations.