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JLT leads healthy start for brokers
Broking stocks performed relatively well last week, with (re)insurance brokers typically enjoying a better start to the year than underwriters.
13 January 2014
AmTrust and Maiden up on Tower deal
Sister companies AmTrust and Maiden had their shares boosted last week after the announcement that ACP Re, a new Bermudian reinsurance vehicle backed by the two companies' founder Michael Karfunkel, has agreed to buy Tower Group.
13 January 2014
Softening market could spur 2014 legacy deals
The softening reinsurance market may spark an increase in legacy transactions as traditional carriers focus on writing new business in the face of falling revenues, according to Compre managing director Will Bridger.
13 January 2014
Tawa shareholders pave way for demerger
The shareholders of troubled legacy and services company Tawa have voted through the resolutions necessary to facilitate the demerger of the business, the AIM-listed firm said late on Friday
13 January 2014
R&Q eyes more run-off deals as Maltese transfer approved
Acquisitive legacy-to-live insurer Randall & Quilter (R&Q) today (13 January) said it was in talks about buying more run-off insurers.
13 January 2014
Bermuda Form dispute may reach Supreme Court
The UK's Court of Appeal has upheld a decision testing the validity of the Bermuda Form - the liability wording developed by the Bermuda market in the mid-1980s.
13 January 2014
AIG extends tax plan preventing ownership change
AIG has announced that its board of directors has approved an extension to a tax plan designed to reduce the likelihood of an ownership change
13 January 2014
Flood premium subsidy extension could cost $2.1bn
The US Congressional Budget Office has warned that a proposed extension to subsidies for flood insurance premiums in the US would throw the already indebted National Flood Insurance Program (NFIP) a further $2.1bn into the red over the next decade
13 January 2014
California wind firm sues Lloyd’s insurers
Wind energy company Dutch Energy Corporation (DEC) is suing a group of Lloyd's underwriters over a business interruption (BI) claim relating to the failure of a large circuit breaker, sister publication Inside FAC reports.
13 January 2014
Request for retrial over $178mn WR Berkley truck death exposure
A WR Berkley policyholder is appealing a Californian court decision that could leave the specialty insurer on the hook for a $178mn loss after a trucking company it insured was found liable for wrongful deaths, The Insurance Insider understands
13 January 2014
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