June 2007/1

Shareholders in Alea Group Holdings (Bermuda) Ltd failed to support the increased offer from the US private equity firm Fortress Investment Group (FIN) in a vote on 21 May...

Mitsui Sumitomo is set to launch the latest aviation start-up in Lloyd's with capacity of up to $200mn and a team of former Wellington Underwriting staff.

Trade body Risk Management Insurance Society (RIMS) has called for mandatory disclosure of all broker remuneration in response to what it sees as broken promises from brokers on the acceptance of placement fees.

Hiscox's chief operating officer and G6 chair Sue Langley is leaving the insurer to join Lloyd's as director of Market Operations and North America.

Munich Re has led an innovative $110mn reinsurance programme for the World Bank-sponsored Caribbean Catastrophe Risk Insurance Facility (CCRIF), which went on risk for 16 countries in the region on 1 June.

Swiss Re has again returned to the capital markets to trade earthquake exposure with the launch of MedQuake Ltd, a $100mn cat bond covering Turkey, Greece, Israel, Portugal and Cyprus.

AXA has launched a further EUR450mn securitisation of its motor portfolio today, following its innovative EUR200mn FCC Sparc transaction 18 months ago.

AXA has agreed to sell its Dutch insurance operations to SNS Reaal for EUR1.75bn, the French giant announced this morning (4 June).

Ironshore Inc has confirmed the appointment of Mike Mitrovic to head up claims at its new professional liability US-based subsidiary IronPro, a move first revealed in the May issue of The Insurance Insider.

RenaissanceRe confirmed the launch of its second Florida-dedicated sidecar today (4 June) after it emerged that the impact of the state’s hurricane catastrophe fund expansion earlier this year may be less severe than first feared.

Insurance outsourcing firm Axiom Consulting has parted company with its CEO Vince Wooding, Insider Week can reveal.