August 2012/4

Any rival bidder seeking to derail Validus's agreed $623mn acquisition of Flagstone Re will have to prepare for a fight, Validus CEO Ed Noonan told The Insurance Insider

There is unlikely to be any payout from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) due to the damage caused by Hurricane Isaac, the organisation has said.

Third Point Re - the 2012 reinsurance start-up capitalised with $780mn in private equity funding - is continuing to build its platform with a London office led by former Allied World executive Clare Himmer

AM Best has put its A- financial strength rating for SeaBright Insurance Holdings under review with negative implications following the news earlier this week that Enstar is to buy the US workers' compensation insurer

Expansionist Bermudian reinsurer Validus Holdings has reached an agreement to acquire Flagstone Re in a cash and share deal that values the company at 0.72x book value.

ANV's Lloyd's Syndicate 1861 is set to expand into the Accident & Health (A&H) market following the hire of a team from Travelers Syndicate Management.

London Stock Exchange-listed motor insurer Admiral increased pre-tax profits for the first six months of the year by 7 percent to £171.8mn, while growing turnover by 6 percent to £1.17bn

Onshore insured losses from Hurricane Isaac along the Gulf coast are expected to be in the range of $500mn to $1.5bn, according to modelling firm Eqecat.

Well regarded insurance equity analyst Chris Hitchings is set to join the boutique Lloyd's Names adviser, the Newton Follis Partnership as director of research, The Insurance Insider can reveal.

Sue Langley, the most senior female executive at Lloyd's, is to leave the Corporation later this year.

Lloyd's (re)insurer Ark Syndicate Management has hired a property and general liability binding authority team from recently bought-out Lloyd's peer Omega, The Insurance Insider can reveal.

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