January 2009/2

Torus aims for Lloyd's entry; Hardy boosts 2009 capacity; Munich Re launches new Lloyd's syndicate; Papworth to take Aon Benfield Fac team to Miller; Amlin sidecar 'oversubscribed'...

On recent New Year's days I have had great satisfaction in reflecting on my investment performance during the year just closed. Even my playful portfolio of shares based on the tips of my regular newspaper over the year will have......

The liquidated estate of US workers' compensation insurers Mission Insurance Companies yielded a further $121mn for policyholders, bringing the total amount distributed to approximately $1.5bn.

Bermudian run-off acquisitions firm Enstar Group completed its $341.3mn acquisition of Travelers' UK-based unit Unionamerica Holdings Ltd at the end of December.

Chubb Europe completes London move; Bermudian Starr gets A rating; Japanese trio in merger talks; US P&C sector slides to loss; CEA responds to QIS4 despite impasse; Swiss Re secures $1.5bn to ease capital concerns; Torus acts as Citadel scales back

Our monthly column keeping a check on recent US and EU legislative and regulatory developments, in association with Sidley Austin LLP...

Randall & Quilter (R&Q), the run-off acquisition and management firm, has continued its strategy of acquiring service companies with a deal to pay up to $6.9mn to acquire Bermuda-based Quest Management Services Ltd.

Broking giant Marsh & McLennan Cos (MMC) has reached a $7mn settlement agreement with nine US states, closing a chapter on four years of investigation into an alleged nationwide bid-rigging scheme.

UK-based Compre Holdings Ltd has acquired two of Sweden-based Länsförsäkringar AB’s reinsurance subsidiaries in run-off – Stockholm Reinsurance Company Ltd and Wasa International Insurance Company Ltd...

Belgian reinsurer Aviabel has agreed to pay its share of the EUR45mn helicopter crash claim by North Korea’s state insurance company that led to a long-running fraud dispute.

Californian-based brokerage Edgewood Partners Insurance Center (EPIC) has reached a confidential settlement with Arthur J Gallagher & Co, resolving the international broker's pending lawsuit alleging conspiracy and poaching of staff.

Zambian mining company Mopani Copper Mines Plc is now pursuing London-headquartered (re)insurance broker Cooper Gay in the UK High Court's Queen's Bench for an estimated $1.5mn in damages after failing to recover from its insurers last year.