December 2007/2

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

The joint venture platform established by the world's largest interdealer-broker ICAP plc and insurance broker JLT Group plc has brokered its first catastrophe swap trade, for 2008 North American windstorm.

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

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.

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 looking to raise around £20mn when it lists on the London Stock Exchange’s Alternative Investment Market (AIM) later this month.

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.

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

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.

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

Stocks in the insurance sector continued to suffer in the last month, with investors apparently not heeding assurances from a number of London market companies over exposure to investment and underwriting losses related to the sub-prime fallout.