January 2009/2

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.

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...

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.

As (re)insurers prepare to unveil fourth quarter and full-year financials in the coming weeks, recent announcements by Advent, IPCRe, PartnerRe and Harbor Point suggest further pain for the industry from deteriorating losses from Hurricane Ike.

Lloyd's insurers will now be able to write direct general insurance business on Guernsey after the market received a licence from the offshore jurisdiction's regulator.

American International Group (AIG) has taken another step in its asset disposal programme with an agreement to sell its Canadian life insurance unit to BMO Financial Group (BMO) for around $308mn.

IBM has won the race for Lloyd's messaging hub contract, fighting off information technology rival ATOS in the final selection process.

Reinsurance rate increases at 1/1 renewals were relatively modest, and confined largely to peak risk in the US, as a relatively small overall depreciation in industry capital, capacity and risk appetite helped to contain price rises.

Texas-based Southwest Insurance Partners Inc (SWIP) - the insurance investment vehicle led by HCC Insurance founder Stephen Way - has plans for a private offering to raise up to an additional $100mn in capital, The Insurance Insider can reveal.

At the time of going to press, London market insurers had received the first Madoff-related notifications on errors and omissions (E&O) and directors' and officers' (D&O) policies.

US private equity firm Apollo, in partnership with BC Partners, is poised to lodge a formal bid later this month to acquire a majority stake in Royal Bank of Scotland's up-for-sale insurance units, after a month of exclusive talks.

The Lockton family and private equity firm Stone Point Capital have injected fresh capital into Lockton International, the London-headquartered broker acquired in 2006, The Insurance Insider can reveal.