• X
  • LinkedIn
  • Email
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
  • Email
© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

June 2011/5

  • (Re)insurer Alterra and private equity partner Stone Point Capital have signed up six investors to join them in funding their New Point IV sidecar launched earlier this year.
  • Ratings agency Standard & Poor's (S&P) has downgraded $100mn of cat bond notes as the loss tally from May's Joplin tornado threatened to trigger cover for cedant American Family Mutual.
  • The size and quantum of investment opportunities in Enstar's medium-term pipeline prompted the run-off giant's search for an external capital injection, investors were told earlier this month.
  • Randall & Quilter (R&Q) is hopeful of completing its drive for additional capital over the summer months to help target larger-scale acquisitions, investors at the expansive UK run-off acquirer's AGM were told on 22 June.
  • Swiss Re last week agreed to purchase a circa EUR300mn run-off portfolio from Dutch insurer Ageas, in its second significant legacy transaction in as many weeks.
  • A US Supreme Court decision on a gender discrimination case brought by former employees of Wal-Mart looks likely to make it more difficult for complainants to secure class action status.
  • The Port Authority of New York can be sued for negligence for the collapse of one of the World Trade Center buildings, a US court of appeals has ruled.
  • Further evidence of a push for consolidation among the insurance-specialist London law firms has emerged after Beachcroft and Davies Arnold Cooper (DAC) revealed they are in talks over a potential merger.
  • Aon has obtained a temporary court order in Illinois to restrain its former construction services CEO Peter Arkley and other senior executives from seeking to poach clients or former colleagues, The Insurance Insider reported last week.
  • One group not hoping for an ease-up on the Solvency II deadline will be actuarial professionals, who have been able to command ever growing fees as the deadline for implementation gets nearer.
  • Industry expectation that Solvency II (SII) implementation will be delayed or softened has reached critical mass over the past week, as experts decipher a raft of statements from European regulators and political executives.
  • The Senate Banking Committee has heard further arguments for overhauling the National Flood Insurance Program (NFIP), with pressure building to reform the indebted programme before its scheduled lapse on 30 September.