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Douetil and Anacap in pole position for Lightyear Capital-backed Antares deal
Anacap-backed Lloyd's veteran Dane Douetil is now the frontrunner in the strategic process being run by the financial backers of Antares, The Insurance Insider can reveal.
14 November 2012
Costa triggers $1.25bn marine contract pay-out
Collateralised retro underwriter Catco has agreed to pay out on a retro marine contract that triggered at industry losses of $1.25bn, in the latest revelation that the industry expects the ultimate loss from the sinking of the cruise liner to continue to escalate.
14 November 2012
Investment gains boost Enstar’s third quarter
Run-off consolidator Enstar almost quadrupled its third quarter consolidated net profits attributable to shareholders from $12.1mn last year to $47.7mn as it benefited from an increase in net realised and unrealised investment gains.
13 November 2012
Ecclesiastical to shun legacy market
UK insurer Ecclesiastical intends to manage the run-off of its legacy UK motor insurance book rather than seeking an external buyer for its assets and liabilities.
13 November 2012
Flagstone Re quietly put into run-off
Flagstone Re was effectively put into run off in the third quarter as the reinsurer completed its $600mn+ sale process to larger Bermudian rival Validus.
13 November 2012
AIG mortgage dispute trundles on
The $10.5bn legal wrangle with American International Group (AIG) is one of the last remaining residential mortgage-backed securities (RMBS) disputes that Bank of America (BoA) has yet to settle.
13 November 2012
White Mountains seeks $22mn in Esurance dispute
White Mountains has revealed it is suing Allstate for $20mn after tax for allegedly shrinking the final purchase price it paid for Esurance.
13 November 2012
Chubb in arbitration with Southwest Risk over $100mn losses
Chubb is in arbitration with Southwest Risk over around $100mn of losses it sustained from policies placed by the broker covering US apartment block complexes, The Insurance Insider understands
13 November 2012
Safety of sovereign debt ‘safe havens’ challenged
(Re)insurers anchoring investment portfolios in the so-called safe havens of the sovereign debt market may be exposing themselves to greater risk than they think while earning very little reward, senior industry executives have warned.
13 November 2012
Fears over future of coverholder regulation
The UK regulator is currently assessing the risks to consumers of delegated authority underwriting within Lloyd's and could significantly reduce the number of coverholders through a heavier compliance burden.
13 November 2012
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