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June 2009/5

  • Bermudian (re)insurer Validus Holdings has said that IPC Holdings shareholders representing approximately 54 percent of total shares support acquisition by Validus, and that it has sent requisitions from the shareholders to IPC.
  • Fitch changes RGA's outlook to negative; S&P goes negative on Gard; CIC takes over supervision of China Re
  • After revealing it was discussing selling a portion of its interest in French insurance broker Gras Savoye & Cie, global broker Willis has reiterated its strong commitment to the leading Gallic intermediary.
  • UK-quoted broker Thompson Heath Bond Group plc (THB) has pointed to sluggish insurance markets for a fall in the group's earnings at the six-month stage.
  • Despite greater transparency following the damaging sub-prime-related securities ratings withdrawals last year, Standard & Poor's (S&P) managing director of Germany Torsten Hinrichs, conceded "no model is clear of conflicts of interest".
  • The biggest risk to prospects of recovery from the recession and global economic slump is the potential for the global bond market to break down, according to Standard & Poor’s (S&P) chief European economist, Jean-Michael Six.
  • Legendary investor Warren Buffett doused hopes of a fast recovery in the US economy, saying he sees no sign of a rebound in the businesses his Berkshire Hathaway conglomerate backs.
  • The growing popularity of quota share reinsurance as a form of underwriting capital was underscored with news that Bermudian (re)insurer Flagstone Re is the leader on the £50mn transaction that enables Lloyd's insurer Chaucer Holdings to...
  • French composite insurer Groupama SA has had its insurer financial strength and long-term counterparty credit ratings cut by Standard & Poor's (S&P) from A+ to A on "weakened capital".
  • By any measure, it was an eventful week for Lloyd's insurer Chaucer Holdings...
  • Lloyd's and Bermuda (re)insurer Omega Insurance Holding's offer for up to 50 percent of the 2010 capacity on its Lloyd's Syndicate 958, set to close on Thursday (2 July) has been relatively well received by members' agents and analysts alike.
  • Ratings agency Standard & Poor's (S&P) raised its insurer financial strength rating on Nigeria-based African Reinsurance Corp to 'A-' from 'BBB+' with a stable outlook.