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RBSI in restructure before spin-off
UK personal lines market leader RBS Insurance (RBSI) will consolidate its insurance businesses into one legal entity, as first revealed by The Insurance Insider in October last year.
11 April 2011
NZ insurer collapses after earthquake
The Argenta syndicate at Lloyd's led the catastrophe reinsurance programme for a small New Zealand insurer that has collapsed under the weight of claims from the Christchurch earthquake.
11 April 2011
IUA hits out at ‘regulatory maelstrom’ facing London market
The plethora of regulatory changes currently facing (re)insurers in the London market are wasting management time and causing significant compliance costs, the International Underwriting Association (IUA) said last week.
11 April 2011
Kingsway negotiates deal to repurchase Lincoln General
UK-listed run-off investor Tawa has continued its US shopping spree by purchasing a majority stake in the controversial Lincoln General Insurance Company.
11 April 2011
Insurers welcome WEF report on mark-to market accounting
The Group of North American Insurance Enterprises (GNAIE) has welcomed the findings of a World Economic Forum report that criticised the unintended impact of mark-to-market accounting principles.
11 April 2011
FSA warns most firms have overstated SII readiness
The Financial Services Authority (FSA) has warned the UK insurance industry that the quality of data firms are using in their internal models must improve if they are to meet Solvency II (SII) requirements.
11 April 2011
Catco fundraises for mid-year renewals
Start-up collateralised reinsurer Catco is raising more money to invest in the upcoming mid-year renewal season and says it does not expect any losses on 2011 catastrophes to date.
11 April 2011
Kramer prepares next move for ILS fund
Serial (re)insurance entrepreneur Don Kramer is talking to institutional investors about opportunities in the insurance-linked capital markets sector, The Insurance Insider's sister publication Trading Risk revealed.
11 April 2011
Write-downs bring cat bond trading opportunities
Cat bond traders expressed satisfaction with secondary trading liquidity in the immediate aftermath of the 11 March Japan earthquake, with many spying yield opportunities in distressed bond prices.
11 April 2011
Restructured Aeolus in fundraising drive
Bermuda-based retro and industry loss warranty (ILW) fund Aeolus is raising additional capital to deploy ahead of the US wind season, while its corporate restructure is on track to complete later this year, according to sources.
11 April 2011
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