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October 2007/3

  • Benfield Group’s share price saw some of the recent gloss taken off its share price late last week with news that a key executive had sold his entire holding in the reinsurance specialist.
  • The London Market has the opportunity to play a key role in responding to the challenges set down in the European Commission's final Report on its sector inquiry into business insurance, according to law firm Berwin Leighton Paisner (BLP).
  • Legacy business purchaser Ruxley Ventures is expected to outline a pioneering financing technique at a court hearing this Thursday into whether to sanction the firm's proposed acquisition of Generali Assurances Generale (GAG).
  • It has emerged that Lloyd’s insurers face potential losses from the investment of US trust fund cash in Mainsail II, a structured investment vehicle (SIV) hit by the credit crunch.
  • Insurance Futures Exchange Services (IFEX), the reinsurance trading platform launched last month by Climate Exchange plc and Deutsche Bank, saw the first trades take place on the exchange last week.
  • Paul Lumbis, the managing director of Guy Carpenter’s new corporate finance unit, is understood to have begun building his team with the appointment of David Coles as Senior Vice President. Coles is currently Amlin’s head of corporate finance and will bec
  • Broker Willis Group Holdings has increased its Swiss presence with a deal to buy Burkart Risk Consulting & Partner AG.
  • Shares in small Lloyd’s insurer, Heritage Underwriting Agency, peaked on the Alternative Investment Market (AIM) at 119p on 5 October, fuelled by strong interim results and vague rumour of takeover interest in the firm.
  • The US-based Association of Insurance & Reinsurance Run-Off Companies (AIRROC) has been in existence for less than three years but its flagship Commutations event has already become...
  • Fitch has lowered its outlook for the German non-life and life insurance to negative from stable reflecting the ratings agency view that there will be more downgrades than upgrades in the next 12 to 18 months in the sector.
  • After hitting Taiwan as a Category 4 storm on 6 October Typhoon Krosa weakened before hitting China forcing the evacuation of 1.4 million people the following day. Krosa made landfall in China near the Fujian/Zhejiang Province border with winds...
  • Forecasters at Colorado State University (CSU) research team are predicting above-average hurricane activity for the last two months of the season.