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Markel opts not to push for offshore status
Markel has decided against moving its domicile to Bermuda as part of its deal with Alterra, stating that it is "almost impossible" to structure the deal in such a way and retain the tax benefit.
21 December 2012
Only Moody’s down on Malterra
Most of the ratings agencies have reacted positively to Alterra's proposed acquisition by Markel, with Moody's the only one of the four major agencies to put the companies on negative outlook.
21 December 2012
Willis to take c.$750mn in write-downs
Global broker Willis has announced it will take circa $750mn of non-cash impairment charges in its fourth quarter accounts for HRH-related goodwill write-downs and a change in its treatment of retention bonuses.
21 December 2012
Swiss Re enters into 25% Meadowbrook QS
Meadowbrook, the US insurer facing a damaging downgrade by AM Best, has entered into a quota share with Swiss Re as it seeks to bolster its capital position.
21 December 2012
Malterra tie-up gets mixed investor response
The sell-off that decimated Markel's stock trading premium after the US specialty insurer's proposed takeover of Alterra was announced appears a strong indication of investor displeasure.
21 December 2012
Digest
R&Q buys Guernsey captive; Taking charge; Tower-Canopius create £70mn Lloyd's SPS; AmWINS acquires; RSA spin-off; Rate rises slow;
21 December 2012
Sandy to cost Lloyd's up to $2.5bn
Superstorm Sandy is set to be Lloyd's third-worst loss ever, trumped only by Hurricane Katrina and the 9/11 attacks.
21 December 2012
Costa Concordia P&I loss rises to $744mn
Marine reinsurers have been notified that the Costa Concordia loss has worsened yet again, just a month after the protection and indemnity market was rocked by an earlier deterioration.
21 December 2012
Timing the exit…
Timing, we are always told, is everything and this certainly applies to successful leaders identifying the right moment to move on.
21 December 2012
Lloyd’s 2013 capacity nears £25bn
The stamp capacity of the Lloyd's market will be a record £24.9bn ($40.5bn) in 2013, an exclusive survey carried out by The Insurance Insider has shown
21 December 2012
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