August 2006/2

The proposed manager of the WFUM Pools Scheme of Arrangement, PRO Insurance Solutions, has issued scheme documentation and announced that the creditor voting meetings will take place on 27 October 2006.

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.

Endurance is the latest as reinsurers trade risk with capital markets The growing popularity of reinsurance securitisations was demonstrated last month with news that Bermudian (re)insurer Endurance Specialty Insurance has acquired $235mn of...

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.

As exclusively revealed by our sister title Insider Week on 24 July, Aeolus Re is to become the latest reinsurer to begin operations on Bermuda following the raising of $500mn of capital.

Arrival of Sirocco Re and Timicuan Re takes post-Katrina sidecars over $3bn Lancashire Holdings became the latest company to launch a sidecar with Sirocco Re, a $95mn capitalised vehicle, which will write a quota share of the "Class of 2005"...