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BMS appoints ex-Brit CEO as new boss
Independent (re)insurance broker BMS Associates has appointed former Brit chief Dane Douetil as successor to the departed CEO Carl Beardmore
19 August 2013
Amlin profit dips on rising cat losses
Amlin plc today (19 August) rounded off the Lloyd's insurers' half-year results season with news of a 12 percent fall in its interim profit, reflecting higher catastrophe losses and weaker investment returns.
19 August 2013
Meadowbrook in violation of debt covenants
Meadowbrook Insurance Group could be forced to immediately repay $45.5mn of outstanding loans after it violated debt covenant agreements following the goodwill impairment charge it reported in its delayed second quarter financials.
19 August 2013
Argo reshuffles E&S management after Levinson resigns
Argo Group's excess and surplus lines (E&S) president Lou Levinson has resigned from the Bermudian (re)insurer, The Insurance Insider has learned.
16 August 2013
Blackstone in talks to buy £900mn Goldman Sachs’ arm Rothesay Life
Private equity behemoth Blackstone is in talks to buy the up-for-sale majority stake in Goldman Sachs UK subsidiary Rothesay Life valued at between £800mn-£900mn, The Insurance Insider understands.
16 August 2013
Earthquake rocks New Zealand
New Zealand has been hit by an earthquake measuring 6.6 on the Richter scale in the second tremor to affect the country in a month, with no serious damage reported so far
16 August 2013
Third Point Re up 4.5% on debut
Third Point Re enjoyed a solid first day of trading on the New York Stock Exchange yesterday (15 August) after floating at the bottom end of the $12.50-$14.50 range it set for its initial public offering last week.
16 August 2013
Iowa watchdog backs Apollo’s Aviva deal
The Iowa Insurance Commissioner has granted conditional approval to buyout firm Apollo's $1.8bn takeover of British insurer Aviva's US operations, removing the biggest regulatory obstacle to the deal.
16 August 2013
AIG to offer $100mn Side A D&O limit
American International Group (AIG) is offering limits of up to $100mn per risk for Side A directors and officers (D&O) liability insurance which it says will allow buyers to create more efficient coverage by reducing the number of markets on towers.
16 August 2013
QBE extends UK solicitors’ offering as XL pulls back
QBE has extended its UK solicitors' professional indemnity (PI) cover to include the riskier 1-3 partner firms, following the news that market leader XL would significantly reduce its exposure
15 August 2013
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