December 2007/2

Listed Bermudian-headquartered legacy firm Enstar Group has acquired AMP Ltd’s Australian-based closed (re)insurance operations for A$585mn ($518mn).

Shares in Lloyd’s insurer Kiln Ltd have jumped by 13.5 percent today as the company has emerged as a takeover target.

Standard & Poor's (S&P) has upgraded the financial strength ratings on the main subsidiaries of The Royal & SunAlliance Group (R&SA) from A- to A.

AM Best has bolstered its London operations with the hiring of Lloyd’s head of capital and broker relationships, Nick Charteris-Black.

Shares in reinsurance broker Benfield Group have fallen almost 8 percent to 280p in early trading today (10 December) after it made a profit warning this morning.

UK run-off firm Randall & Quilter Investment Holdings (R&Q) is looking to raise around £20mn when it lists on the London Stock Exchange’s Alternative Investment Market (AIM) later this month.

The UK Financial Services Authority (FSA) is to further investigate inefficiencies in the commercial general insurance market before deciding on whether to mandate commission disclosure.

UK run-off firm Randall & Quilter Investment Holdings (R&Q) is poised to float on the London Stock Exchange’s Alternative Investment Market (AIM), The Insurance Insider can reveal.

Bermudian insurer Aspen Insurance Ltd (AIL) has had its financial strength rating upgraded to A (Excellent) from A- (Excellent) by AM Best.

Closing prices for 2008 US cat windstorm losses leapt nearly six percent yesterday on the derivatives platform Insurance Futures Exchange Services (IFEX) signalling that traders think there is a greater chance of a major windstorm loss next year.

Cevian Capital, the activist investment fund backed by Carl Icahn, has taken a 3 percent stake in Munich Re.

Credit default swap (CDS) spreads for European insurance companies have again leapt, reflecting renewed sub-prime fears over insurance security.