May 2006/2

Validus Reinsurance Ltd will become the latest Bermudian reinsurer to launch a sidecar with around $200mn of capital, The Insurance Insider can reveal. The “class of 2005” company will form Petrel Re, a sidecar reinsurer that will provide capacity...

Beleaguered Bermudian PXRE was dealt another blow last month as chief operating officer Guy Hengesbaugh handed in his notice at the reinsurer.

The run-off acquisitions firm LCL Acquisitions Ltd has completed its ownership of the Isle of Man insurance administration firm FIT Administration (IoM) Ltd.

Sidecars may have been around before last year’s trio of devastating hurricanes, but the trend to set up such vehicles was taken to a new level as (re)insurers looked to offload risk from balance sheets damaged by heavy losses and under the scrutiny of...

Bermudian reinsurer to establish 'independent presence' American International Group (AIG) is continuing to divest its interest in reinsurers it helped found, with the US giant putting its 24.2 percent stake in Bermudian IPC Re...

Besso fined by FSA over fraud employee; Amlin raises £230mn debt; R&SA boosts regulatory capital; Heritage plans PA syndicate and AIM float; Ex-Marsh VC joins Beazley; Guy Carpenter launches London Market e-claims; GoshawK shares et al...

As broker consolidation talk gains momentum, Willis is linked to a possible move for JLT Willis Corp, the world’s third largest insurance broker, is considering the merits of a significant broking acquisition, according to sources close to the firm.

Lloyd's insurer SVB is on course to executive its restructuring plan after its proposed scheme of arrangement to introduce a new listed holding company, Novae Group plc, was approved in a court ordered meeting on 24 April.

Reinsurers are continuing to face harsh increases following the retro capacity crunch. Will this drive demand for alternative sources of contingent capital? Six months on from the tail-end of last year's devastating storm season, and the...

(Re)insurers and the capital markets are pushing back the boundaries in their willingness to securitise risk. Where will it all end? It might appear somewhat odd to note (re)insurance securitisations are now à la mode considering the industry's...

Although shares in Fairfax Financial Holdings have regained some ground lost following the company's revelation that senior management members face a class action lawsuit, bears on the stock continue raising questions over the future of the Canadian...

ACE settles for $80mn; Willis parts company with Marsh defector; Allianz launches US aviation operation; Insured Q1 US losses at $1.38bn; Fortress Re founder dies; Rivera joins Fox at Praetorian; Insurers in $830mn Suncor BI settlement; et al...