January 2006/2

Bermuda-based run-off company Castlewood Holdings, together with Shinsei Bank, has bought Aioi Insurance Company of Europe (Aioi Europe) for £62mn. Aioi Europe, a London-based subsidiary of Japanese insurer Aioi Insurance Company, wrote the...

Hurricane hit Lloyd's (re)insurer Advent confirmed on Friday (6 January) the completion of its £30mn share issue and the appointment of a new non-executive director following approval by shareholders at an extraordinary general meeting.

Investors can expect to see a rise in mergers and acquisitions (M&A) activity within the life sector over the next few years, according to a report from reinsurance giant Swiss Re. The report found that the need to consolidate had begun a busy phase...

The increasing use of securitisation transactions by European life insurers for finance and risk transfer is set to keep on growing, according to a report by Standard & Poor's (S&P). The report predicts that deals in the class will continue to rise...

Reports by two of the world's largest reinsurance brokers have found that the renewal season has so far been a "Tale of Two Markets". The reports from Willis Re and Guy Carpenter agreed that lines directly affected by hurricanes Katrina, Rita and...

US bank Marshall & Ilsley Corp (M&I) is suing Marsh parent MMC over accusations of overcharging premiums in relation to the contingent commission scandal that rocked the broking giant in October 2004.

Deloitte & Touche, the audit firm embroiled in the controversial collapse of aviation reinsurer Fortress Re, has paid out around $100mn to Japanese insurer Sompo as part of a litigation settlement.

Bermudian (re)insurer XL Capital last Wednesday (4 January) announced a senior management reshuffle, as it steps up its long-term succession strategy to replace CEO Brian O’Hara. As part of the restructuring, James Veghte has been appointed chief...

Bermudian reinsurer Montpelier Re has raised $100mn through a private sale of trust preferred securities boosting its total capital to over $1.4bn.

Bermudian Arch has become the latest (re)insurer to enter into a sidecar arrangement following the establishment of Flatiron Re, which has itself become the first vehicle of its kind to be rated by Standard & Poor’s (S&P).