January 2008/5

JRG Reinsurance Company has become the latest reinsurer to launch on Bermuda, with $250mn of capital to write working layer reinsurance business for US specialty insurers.

Global broker Marsh has appointed Carrick Lambert as managing director of the Europe, Middle East and Asia (EMEA) financial institutions industry practice.

After stop-start talks, specialist UK broker THB Group plc has finally completed its £8.5mn acquisition of PWS Holdings plc's Lloyd's business and overseas interests.

(Re)insurance shares recovered from a turbulent last week in the markets clawing back ground by close of trading on Friday (25 January) after falls caused by fears of a US recession.

US insurer The Hartford Financial Services Group has reported core earnings of $840mn, or $2.66 per diluted share, in the fourth quarter of 2007, a 22 percent increase on the same period in 2006.

Specialty insurance group Markel Corporation has improved on last year's record performance despite seeing its combined ratio rise, it reported in its 2007 results.

In a letter to shareholders Max Re chairman and CEO Marty Becker said the company would be looking to make acquisitions this year as it makes "economic sense" at this time in the reinsurance cycle.

In what proved to another brutal week for the monoline insurers, the financial guaranty and credit (re)insurance specialist Assured Guaranty Ltd (AGL) took a $302.9mn after-tax unrealised mark-to-market loss...

Berkshire Hathaway's Swiss Re stake is a "vote of confidence" in its competitor but the potential dilutive effect of the "attached" quota share deal on the reinsurance giant's earnings per share (EPS), left analysts cautious.

Phil Moyles has joined the legions of ex-MMC executives at private equity firm, Stone Point Capital.

Chinese insurer Ping An Insurance Co has revealed plans to raise up to $22bn in a public offering in order to fund mergers and acquisitions.

American International Group became the latest financial institution to bail-out a structured investment vehicle (SIV) when it came to the rescue of its $2.5bn vehicle, Nightingale Finance.