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Contrasting fortunes for independent brokers
Centrix Insurance Holdings, parent company of Lonmar Global Risks, incurred losses of £3.12mn in 2010 after swallowing more than £2mn of costs paid out to marine underwriters that had been overcharged
04 October 2011
Lovett launches marine and energy MGA
Tony Lovett has re-emerged with a new London-based managing general agency (MGA) backed by Kiln, The Insurance Insider revealed late in September
04 October 2011
AmWINS-THB deadline a fortnight away
US wholesaler AmWINS has until mid-October to disclose a firm intention to make an offer for Thompson Heath & Bond (THB) before it hits a deadline under the UK Takeover Code
04 October 2011
RITC completes HSBC legacy purchase
RITC Syndicate Management (RSM) has completed the £68.5mn acquisition of HSBC's legacy motor insurer HSBC Insurance UK Limited (HIUK).
04 October 2011
Highlands clearance
The winding up of insolvent UK insurer Highlands Insurance Company (HUK)'s liabilities moved within sight last month after cedant creditors agreed to a scheme of arrangement's terms.
04 October 2011
2011 Lime Street profit unlikely
Despite what appears an increasingly benign 2011 storm season for US reinsurers, Lloyd's is likely to post a full-year combined ratio of 105 percent or more, predicts S&P
04 October 2011
Acquisitive Tawa reports $11mn H1 profits
(Re)insurance service provider and run-off acquirer Tawa last month reported a post-tax profit of $11mn for the first half of the year, with results boosted by capital releases from its legacy portfolios.
04 October 2011
Lloyd’s is now the largest global cat reinsurer
Lloyd's wrote more property cat premium than any other (re)insurer in 2010, with $4bn of gross premiums from cat-exposed property treaty
04 October 2011
Eagle Star sale ‘to be delayed until 2012’
Zurich Financial Services will delay putting its legacy UK insurer Eagle Star out to tender until at least the first quarter of next year, according to market sources...
04 October 2011
Rating agencies win Ohio trial
On the same day McGraw-Hill was issued the Wells notice, Standard & Poor's (S&P) was celebrating a legal victory in Ohio, along with fellow rating agencies Fitch and Moody's.
04 October 2011
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