November 2006/1

UK regulator the Financial Services Authority (FSA) has begun to accept applications for sidecar-style insurance special purpose vehicles (ISPVs) from today (6 November), following approval of its proposals to make ISPVs more attractive.

Broking giant Aon Corp came in below analyst estimates last Thursday (2 November) with its third quarter results but five percent growth in its core broking business will be better received by shareholders. The Chicago-headquartered firm reported...

There were few surprises as Marsh & McLennan Companies, Inc (MMC) released a steady set of third quarter last Wednesday (1 November), with consolidated revenues up four percent to $2.9bn on the prior-year period.

Alchemy’s acquisition of the Lloyd’s insurer Cathedral Capital is not the largest private equity deal in Lime Street – that honour goes to the £430mn buy-out of the motor insurer Cox Insurance (now Equity) last year.

Speculation that UK broker Jardine Lloyd Thompson Group plc was considering a strategy of focussed regional growth was quashed last week (31 October) when the company announced a major restructuring that includes greater integration of its two separately.

Willis Group Holdings has expanded its energy division by raiding rival Marsh Inc to appoint two senior executives to its New York based team.

An “outstanding year” to date in its property & casualty operations contributed to investment conglomerate Berkshire Hathaway reporting third quarter net earnings of $2.77bn on Friday (3 November)...

Hiscox will depend on up to £87.5mn of qualifying quota share capacity next year as its flagship Lloyd’s Syndicate 33 expands to a record size of £962.5mn, according to a business plan submitted to Lloyd’s.

Alchemy Partners, the private equity firm founded by Jon Moulton, had thus far avoided the temptations of Lime Street but this all changed with its £113mn acquisition of short-tail specialist Cathedral Capital, last week.