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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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  • Zurich Financial Services (ZFS) is in talks with UK watchdog the Financial Services Authority (FSA) over a plan to create a single headquarters in Ireland for the European arm of its life operation, according to reports.
  • The proposed solvent schemes of arrangement for the Camomile Pool companies last week secured unanimous approval from its creditors, The Insurance Insider understands.
  • Swiss Re has continued its long-running Vita Capital series of transactions with the issue of $50mn of notes in the first transfer of extreme mortality exposure since November last year.
  • Australian insurer QBE bought CNA's Argentinian subsidiary for $66mn as it continues its strategy of growth through acquisition.
  • Marsh has formed an international practice for all nuclear clients based outside North America, in an attempt to capitalise on the renewed global appetite for nuclear energy.
  • The overall claims cost to political risk underwriters of the global financial crisis so far is approaching $2.5bn, according to Bermuda-headquartered (re)insurer Aspen.
  • Axis Capital has settled its political risk/financial credit exposures relating to Blue City, the $20bn real estate project in Oman that has become a totem for the industry's aggressive expansion into writing risky credit insurance in emerging economies.
  • Cooper Gay is to press ahead with an initial public offering (IPO) in New York as early as next year, once it completes its imminent merger with US wholesaler Swett & Crawford, The Insurance Insider understands.
  • The proposed solvent scheme of arrangement for the Camomile Pool companies has won unanimous approval from its creditors at a series of meetings this morning (10 June), The Insurance Insider understands.
  • Brit Insurance has rejected US private equity firm Apollo's 1,050p approach, but said it would be willing to consider a higher offer.