July 2008/1

Stone Point Capital and the former chief executive of Marsh Americas are poised to launch a new vehicle dedicated to funnelling the enormous insurance spend of the private equity industry.

Rapprochement for AIG and Greenberg; Sullivan nets $47mn pay-off; Marsh receives Qatari licence; Enstar shares fall; Paris Re RISC ratings affirmed; AWAC deal could net Darwin chief $9mn; Ariel Re appoints new chairman

As predicted by The Insurance Insider, Capita Group plc and Marsh UK finalised their 10-year outsourcing deal, worth £187mn, that will see around 600 staff transfer to the outsourcing firm.

Marsh is bringing back the Bowring name for a new division to put together its international placement capabilities for property, terrorism and casualty risks.

Pricing and trading in the industry loss warranty (ILW) market has boomed with the start of the US wind season in June.

Amid the threat of large losses, the hurricane season is not traditionally seen as a time for non-life M&A activity - especially on Lime Street.

Warren Buffett's Berkshire Hathaway is well known for stepping in to provide capacity for mega catastrophe perils that is either unavailable or too expensive elsewhere.

After record first quarter large-risk losses of over $6bn, (re)insurers have been hit with second quarter catastrophe losses of at least $6.25bn, the worst for 20 years, The Insurance Insider has learnt...

Around 30 Lloyd's Names face bankruptcy after losing a key court case last month over claims that they had been misled over reinsurance to close (RITC) which means Lloyd's syndicates take up business from prior years.

Former RenaissanceRe president Bill Riker will join Benfield Group Ltd as a non-executive director on 1 September 2008.

A two tier market continues among space insurers as underwriters demand significant rate increases on launch cover while in-orbit cover remains competitive.

Energy start up Torus Insurance Holdings has poached Munich Re's London-based construction team, The Insurance Insider understands.