October 2006/1
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A benign conclusion to the 2006 hurricane season could speed up the softening market for non-catastrophe exposed property casualty (re)insurance worldwide.
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Failed (re)insurer GoshawK Insurance Holdings announced increased post-tax losses of £2.6mn for the first half of 2006, against a loss of £0.5mn in the prior-year period, the company revealed in its interim results on 29 September. “The group has...
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Paris-based investment bank Calyon has completed a $63mn securitisation, Pinnacle, which again demonstrates the industry’s growing enthusiasm to sell-on risk to the capital markets. The transaction was part of a $128mn programme of various cat bonds...
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The prospect of mandatory disclosure of broker commissions in the UK took a step closer today (2 October) following a speech by the Financial Services Authority (FSA) chief executive John Tiner. The head of the UK’s regulatory authority said it was...
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Integro Ltd announced last week a joint venture with risk specialists Indemnis Trade Risk Management. Integro said the deal would offer an array of trade risk management programmes to clients within North America. “We are enthusiastic about our firm's..
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Market information and analysis firm Advisen Ltd has teamed up with XML messaging specialist Web Connectivity Ltd in a combined offering it says will increase transparency and efficiency in the London market. Under the partnership, Advisen will...
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Bermuda-headquartered Catlin Group confirmed on 27 September that it is to enter into a catastrophe swap agreement that would provide it with coverage of up to $200.25mn for global natural catastrophes. The deal marks the first publicly rated...
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Although premium growth in China has exceeded all expectations in recent years the country’s insurance market is still in its infancy, according to a report by the reinsurance broker Benfield Group. Benfield said that total premiums increased strongly...
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Chaucer Syndicates Ltd has become the latest Lloyd’s insurer to unveil plans to build a Singapore platform. In a statement to the London Stock Exchange last week, Chaucer said it will appoint energy underwriter Chris Wildee as chief executive of the...
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The Conservative Party Treasurer and former Jardine Lloyd Thompson Group plc director Jonathan Marland has led an investor group of City grandees that has acquired the Lloyd’s investment fund manager, Insurance Capital Partners LP (ICP). ICP...
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Lloyd’s has announced plans to overhaul its annual venture in a bid to tackle complaints that its current structure adds costs and restricts management flexibility. In an announcement today (2 October), the Society has come up with two proposals...
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RenaissanceRe founder and former chairman and CEO Jim Stanard and two other ex-employees of the Bermudian reinsurer have been charged with securities fraud by the Securities and Exchange Commission (SEC) over a finite reinsurance transaction.