May 2007/2

The impact of recent changes to the Florida Hurricane Cat Fund (FHCF) will be less than originally anticipated, according to Geoffrey Bromley, non-Americas chairman of reinsurance broker Guy Carpenter.

Latest developments in the London (re)insurance market

In a further sign of dramatically changed supply conditions in the retro market, rates for Industry Loss Warranties (ILWs) have slumped 30 percent since 1 January 2007, according to Montpelier Re chairman and CEO Tony Taylor.

Liability veteran, Bob Wallace, has parted company with the Imagine Group, after just a year as chairman of the group’s combined Lloyd’s operation.

Stephen Way, the founder of HCC Insurance Holdings, has joined forces with a Chicago-based private equity firm to acquire businesses in the (re)insurance sector.

American Wholesale Insurance Group (AmWINS) is in advanced talks to take control of London market broker Besso Group and become the latest US broker to acquire a foothold in London, The Insurance Insider understands.

Bermudian reinsurer, Paris Re has appointed underwriters as it prepares an initial public offering (IPO) later this year which could value the firm at $2-3bn, just one year after it was bought out from AXA SA.

If reports are true, Patrick Snowball’s decision to reappear at Towergate is masterful. Snowball was widely thought to have fallen out with his Aviva colleague Andrew Moss

Former Endurance Specialty Holdings Ltd executive David Cabral has teamed up with US excess and surplus (E&S) lines insurer Rockhill Holding Company in seeking approval to launch a Lloyd’s casualty syndicate, The Insurance Insider can reveal.

The Bermudian (re)insurer Validus Holdings Ltd is set to complete the acquisition of Lloyd’s based Talbot Underwriting Holdings, as first revealed by The Insurance Insider.