June 2007/2

Mergers and acquisitions (M&A) activity has recently become the resurgent trend in the insurance industry, with most action evident in the UK regional broking sector.

Despite a recognition that Florida’s impact will be far less brutal than first feared for reinsurance brokers’ 2007 earnings, analysts Keefe Bruyette & Woods Ltd (KBW) retain a bearish stance...

David Spiller, the chief executive of MMC's reinsurance arm Guy Carpenter & Co, is close to relocating back to London, The Insurance Insider understands.

Resurgent French reinsurer SCOR is facing the threat of a sizable hit from the recent $2bn settlement between (re)insurers and the World Trade Center (WTC) developer Larry Silverstein.

The North Atlantic hurricane season, which officially began on 1 June, will present US insurers with a number of legal and meteorological challenges, according to a report by Fitch Ratings.

Munich Re led the 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.

A series of reinsurance contracts were at the heart of efforts by Independent Insurance senior management to misrepresent the company's financial health, a court has been told.

RK Carvill's acrimonious "commissions" dispute with XL Capital has been settled after a US court ruled that the Bermudian insurer should pay $5mn in damages to the reinsurance broker.

RenaissanceRe confirmed the launch of its second Florida-dedicated sidecar in another sign that the impact of the state's hurricane catastrophe fund expansion earlier this year may be less severe than first feared.

Ex-Wellington underwriters to head Mitsui aviation; Novae launches into the UK property market; Heritage to add international treaty team; Lloyd’s to raise up to £500mn in debt issue; FSA bans King...

The latest from the legacy market

Gen Re's action is the latest in a series of legal scraps over fac reinsurance teams reflecting a recent increased interest in the area from brokers and underwriters looking for new growth opportunities in a softening market.