March 2008/2

Listed Bermudian run-off firm Enstar Group Ltd reported a drop in its full-year profits last year despite increasing its assets by over 30 percent.

RSA has sold Guildhall Insurance Company to Enstar Group in a move that continues the group’s disposal of its legacy business.

Insurance specialist law firm Ince & Co has made a number of senior appointments following the decision of senior partner Peter Rogan to step down this month.

As Ron Sandler, chairman of Bermudian insurer Ironshore Ltd and the former CEO of Lloyd's, takes the helm at newly nationalised UK bank, Northern Rock, the bank's directors' and officers' (D&O) policy looks set for a total loss.

German reinsurance giant Munich Re is approaching the capital markets for the second time in a month, with a EUR150mn European windstorm cat bond, Queen Street, our sister publication Trading Risk revealed.

Towergate's executive chairman Peter Cullum is reportedly in talks with private equity group Candover over the potential sale of a 25 percent stake in the intermediary.

The UK broking sector is set for further M&A activity after consolidator Giles Insurance Brokers Ltd was handed a £500mn acquisition fund following private equity fund Charterhouse Capital Partners' buyout of the firm.

Swiss Re's 20 percent, five-year P&C quota share reinsurance deal with Berkshire Hathaway continues to intrigue, despite the Zurich-headquartered reinsurer providing greater detail with its 2007 results last month.

French insurance giant AXA's UK subsidiary has continued its acquisitive march through the UK broking landscape with an accepted offer to buy 100 percent of broker SBJ Group Ltd for £158mn.

Former RenaissanceRe executive Michael Cash is planning a return to the market with the launch of a new, unrated reinsurance vehicle, Juniperus Partners.

Shares in Australian (re)insurer QBE Group slumped after the company missed analyst profit estimates for 2007, raising questions over its rapid expansion strategy.

Buffett goes long on derivatives; Fairfax profits from credit bets; DIFC extends international attractions; AM Best stable on reinsurance; IRS captives tax u-turn...