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Company Example A

Overview
Content
Data

Company type

Insurance-Linked Securities (ILS) and Investment Managers

Miscellaneous

Founded
1896

Major offices

Zurich, CH (headquarters)
Nassau, BS

Officers

Smedley MacGuffin (CEO)

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  • London market wholesaler Price Forbes & Partners has lured former HSBC broker Paul Bumpstead to head up a new treaty reinsurance division due to open for business on 1 October.
  • UK-quoted Randall and Quilter Investment Holdings (R&Q) has issued an upbeat business prognosis as it looks to build on its recent acquisition trail, with Solvency II holding out more opportunities in Europe.
  • The chairman of UK composite insurer Aviva Lord Sharman has been named as one of the five members of a council of business elders created by UK business secretary Vince Cable.
  • Global business processor and outsourcing giant Xchanging is set to acquire 51 percent of Kedrios, an Italian subsidiary of European financial and payments systems service provider SIA-SSB.
  • Willis forms North American distressed assets practice; Wildbore heads Willis' new Toronto office; XL Re gets green light in Florida...
  • The tide may be turning against Bermuda when it comes to commercial (re)insurers, but the low tax jurisdiction is still the domicile of choice for captives, new research from Marsh shows.
  • Non-US reinsurers had $23bn of letters of credit outstanding as collateral against potential claims in the US at year-end 2009, according to rating agency Moody's.
  • Rating agency Standard & Poor's (S&P) revised its outlook on Marsh & McLennan Companies (MMC) from stable to negative last week, citing concerns over a $500mn settlement.
  • Bermudian Aspen Insurance Holdings is to deliver on plans to expand its UK arm after securing the services of Fusion founders Kevin Pallett and Geoff Crisp to build its presence in the country.
  • The London market has a "huge opportunity" to make itself the market of choice for the liability programmes of major corporates and financial institutions, according to a senior Marsh executive.