August 2009/1

Pamplona Capital Management, the Russian-backed private equity firm, is still waiting for clearance from the Financial Services Authority (FSA) to build a pivotal stake in the listed Lloyd's insurer Chaucer Insurance Holdings.

Lancashire Holdings expressed surprise at the markedly reduced demand for Gulf of Mexico (GOM) energy wind cover it experienced in the second quarter...

Lloyd's (re)insurer Advent reported increased pre-tax profits of £5.7mn for the first half of the year, compared to £1.6mn in the same period of 2008.

Cracknell appointed head of Aon Marine in UK; JLT Aerospace recruits Willis aviation chair as partner; Evolution adds to board, relocates...

Parkton Re Ltd, the cat bond put together for North Carolina's state wind pool, has become the latest 2009 issue to upsize as it increased from a planned $125mn to $200mn on closing.

A US federal judge has upheld a jury verdict for United National Insurance Company (UNIC) in a reinsurance spat with Aon Ltd, and added $8.3mn in prejudgment interest to the amount the jury awarded...

Expansive Bermudian insurer Ironshore has grown its global property division by establishing a dedicated global energy property business.

The landmark House of Lords decision to unanimously re-confirm the principle that a period clause is fundamental to an English legal reinsurance contract has been praised as a "victory for common sense".

A London-based energy team focused on UK independents are leaving Aon to join the Global Energy division at rival broking giant Willis, The Insurance Insider understands.

The decision to allow AJ Gallagher to again charge contingent commissions on US retail business showed how polarised the debate over broker remuneration/transparency is, despite the efforts of the New York attorney general in 2004-05.

The big three global brokers saw their stocks trade up last week after the Illinois authorities decided to allow AJ Gallagher to again negotiate contingent commissions with insurers.

Second quarter results have once again demonstrated that the choice of accounting methodology can have a significant impact on a (re)insurer's bottom line.