January 2007/3

Goldman Sachs Asset Management (GSAM) is set to launch Steamboat Re, a Class III Bermudian incorporated reinsurer, The Insurance Insider can reveal.

Following the path of hedge-fund start-ups such as Bermudian Max Re Capital, set up in 1999 by Moore Holdings LLC, and successors CIG Re and Glacier Re, a number of standalone "unicycle" vehicles have emerged post-Katrina in search of direct access to pot

Bob Clements’ Ironshore Ltd provides a further $1bn of scarce cat capital

In the search for growth, Australia’s insurers have been involved in a series of mergers and acquisitions in the last six months epitomised by QBE Insurance Group’s double strike for Hannover Re’s Praetorian Group...

Gallagher Re index alternative to ILWs for Cat capacity; Endurance upgraded to A by S&P; MMC Putnam deal welcomed; BMA’s fees quadruple; Max Re launches US platform...

The fate of UK insurer Royal & Sun Alliance Group plc’s (R&SA) attempt to cut itself free from its US run-off business will be decided at a public hearing later this month.

AM Best downgraded the financial strength rating of General Insurance Corp of India to A- from A.

Apparent tensions between Catlin Group and AM Best re-surfaced last month with the rating agency maintaining its negative implications stance on the group despite the unconditional declaration of its takeover of Wellington Underwriting plc.

Lockton International, the fast-expanding arm of US broker Lockton Inc, swooped for a number of London market executives last month.

Oxygen, the independent London-based intermediary, parted company with three members of its international property team last month.

Integro Ltd, the "fresh start" commercial broker launched in the wake of Spitzer's attacks on the US insurance industry, saw revenues grow last year – but it still has a long way to go before it can challenge the hegemony of Marsh, Aon and Willis.

With predictions that 2007 could be an eventful year for insurance M&A, Prudential, R&SA and Standard Life lead the list of possible targets…