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ANV final bid for Flagstone on the table
Flagstone is weighing up its strategic options after ANV, the sole remaining bidder in its auction process, tabled its "final" bid for the company, The Insurance Insider can reveal.
26 June 2012
Villers moves upstairs in Aspen reshuffle
Former SVB chief exec Rupert Villers is to relinquish his job as co-CEO of Aspen Insurance to take on the new role of chairman
26 June 2012
Labuan Re’s 2011 losses push CR to 123%
Malaysia-based Labuan Reinsurance ran up a combined ratio of 123 percent in 2011 due to international catastrophe losses from the Thai flooding and Christchurch earthquakes, Fitch Ratings said as it affirmed its A- rating on the insurer
26 June 2012
Berkshire agrees to take $800mn chunk of Suncorp cat cover
Berkshire Hathaway is set to write an $800mn chunk of Suncorp's 1 July renewing main open market cat treaty, The Insurance Insider can reveal.
26 June 2012
Novae Re defections now at least 13 strong
The walk-out at Novae Re's Zurich office continued last week, with most of the firm's Switzerland-based underwriters now having resigned from the Lloyd's (re)insurer.
26 June 2012
European (re)insurance stocks fall as political obstacles mount ahead of summit
European (re)insurance stocks fell heavily on Monday as a deluge of bad news added to the challenges facing the continent's leaders ahead of a summit later this week.
25 June 2012
Axis shares in ‘choppy’ waters after Charman ousting
Shares in Axis Capital closed down 2.5 percent on 25 June at $31.57 on the New York Stock Exchange (previous closing price $32.38) following news that the (re)insurer had ousted chairman and founder John Charman at the cost of $22mn.
25 June 2012
BMA optimistic on Solvency II equivalence
The Bermuda Monetary Authority (BMA) is "confident" that the island will achieve equivalence with Europe's Solvency II directive, following talks in Brussels earlier this month.
25 June 2012
News digest
Guy Carpenter's Young Professionals raises the bar; McConachie out to pasture early; Debby approaches US coast; Sodden June for UK; Typhoon season kicks off; Pioneering hire for BMS; Groupama in junk territory; Seven year stretch for SII transition?; New pilot for AIG leasing unit
25 June 2012
Employee benefits broker veteran sued by Lockton
US-based broker Lockton has sued former senior vice president of employee benefits David Bachrach for failing to pay back around $350,000 in outstanding membership contributions when he quit the firm.
25 June 2012
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