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May 2007/3

  • Benfield Group's 2005 move into primary lines continues to provoke concerns among some analysts about the reinsurance broker's prospects.
  • Carvill announced last week a tie-up with AIR Worldwide Corporation that will see the modelling company support Carvill Hurricane Index (CHI) in its standard and near-term US hurricane models.
  • Provisional liquidator Grant Thornton has confirmed the initial dividend payment under its proposed UIC Insurance Company Limited scheme of arrangement has been set at 100 percent.
  • Russian insurance, investment and leasing group Oslo Marine Group Ltd (OMG) has established a London representative office headed by ex-Novae and CLM Insurance Fund plc executive, Keith Parker.
  • As SCOR found out recently, there are times when shareholders need an extra incentive before they will support take-out offers – and this is looking increasingly the case with the defunct reinsurer Alea Group Holdings.
  • In an era of increased globalisation, "understanding and preparing for political violence has arguably never been more important for business", according to Lloyd's chairman Lord Levene, at the launch of a new report on terrorism.
  • Allstate Insurance Co announced that it would not be writing any new homeowners policies in the state of California from 1 July.
  • Stephen Way, the founder of HCC Insurance Holdings, has teamed up with the $8bn private equity group GTCR Golder Rauner LLC to back a new investment firm specialising in the insurance sector.
  • Maintaining underwriting discipline and good cycle management will be key as falling aviation rates send the market towards the "burning cost" for airline business, according to Lloyd’s Annual Report 2006.
  • The continuing uncertainties in catastrophe models were highlighted as a stumbling block to high ratings for insurance linked securities (ILS), such as cat bonds, last week.
  • Heath Lambert, the UK broker that has to continually fend off takeover speculation, has restructured its operations following the departure of a number of executives.
  • Synergy Insurance Services, an innovative UK insurer that has been in the pipeline for a number of years, is finally launched this week amid claims that its structure could allow small and medium-sized businesses to save up to 40 percent of their insuranc