June 2008/1
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After just two years of trading, Catlin's bid to become the Direct Line of commercial SME business through its cover holder Brighter Business Ltd has ended and the company is now in run-off, The Insurance Insider has learnt.
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Lloyd's insurer Novae Group has put its legacy run-off business out to tender in a move that could see the firm finally free itself from the shackles of its past, The Insurance Insider can reveal.
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UK-listed intermediary Jardine Lloyd Thompson (JLT) could pay up to £8mn for independent London market (re)insurance broker Harman Wicks & Swayne (HWS), The Insurance Insider understands.
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The Virgin group successfully gained a reduction in rates for two of its three airlines in the May renewals as the market continues its struggle to get airborne.
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Lloyd's insurers may be free to operate without annual venture restriction following HM Treasury guidance
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The 1 June Florida property cat renewal is expected to have produced average rate reductions of around 15 percent, according to a report from reinsurance broker Guy Carpenter.
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Benfield has confirmed a tie-up with Michael Cash that sees it invest $50mn in a fund managed by the former RenaissanceRe executive focussing on the collateralised catastrophe reinsurance and insurance linked securities (ILS) markets.
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London market brokers have been "named and shamed" over their failure to adopt a key electronic initiative that could speed up the payment of premiums from brokers to (re)insurers.
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Tensions are brewing between Lloyd’s underwriting supremo Rolf Tolle and at least two managing agents over demands for more performance management data as the market heads deeper into the soft cycle, The Insurance Insider has learnt.
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With almost $1bn of cat bond capital issued in May and another $500mn+ in the pipeline, the market is buoyant once again after the slow start to 2008
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Former Quanta Syndicate among targets as Bermudian continues search for Lloyd's platform
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The protracted saga of Cooper Gay's acquisition of Heath Lambert's wholesale units was finally completed as The Insurance Insider went to press with the transfer of some of the up-for-sale operations to the expanding (re)insurance broker.