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Nexus managing agency secures backing after Argo pulls support
Private equity-backed financial lines managing agency Nexus Underwriting Management (NUM) has secured the backing of new capital providers after Lloyd's (re)insurer Argo Group withdrew support for one of its subsidiaries last month.
07 February 2011
FSA investigates three Lloyd’s insurers
Three Lloyd's managing agents have faced an intrusive Section 166 investigation from UK regulator the Financial Services Authority (FSA) in the last two years following compliance concerns, The Insurance Insider has learned.
07 February 2011
Ex-Gen Re CEO Brandon vindicated as regulators close file
Joseph Brandon - the former General Re CEO who was forced to resign amid growing pressure from US regulators over a controversial finite reinsurance transaction with American International Group - can return to the industry with his reputation intact.
07 February 2011
Terra Firma in talks to buy Lloyd’s insurer Chaucer
Guernsey-based private equity firm Terra Firma is in talks to acquire Lloyd's (re)insurer Chaucer plc, The Insurance Insider can reveal.
07 February 2011
Australian cat losses mount to $1.75bn
Declared losses from Australia's recent spate of catastrophes have reached roughly $1.75bn, according to initial analysis from The Insurance Insider.
07 February 2011
QBE details giant reinsurance cover
QBE has confirmed details of its giant $1.3bn multi-year global cat reinsurance cover, which was first revealed by The Insurance Insider last November.
07 February 2011
Comment: Don’t attack what you don’t understand
The problem with many US prosecutors' attacks on our industry since the aggression first unleashed by Eliot Spitzer in 2004 bore such spectacular fruit is that they have been so far wide of the mark.
07 February 2011
US P&C rates fall 5 percent
Rates for US property and casualty insurance fell by 5 percent on average in January, according to the latest market barometer from Texas-based insurance exchange MarketScout.
07 February 2011
IAG’s $4.1bn reinsurance to limit $170mn Australian flood losses
Canny reinsurance purchasing stands to limit Insurance Australia Group's (IAG) net losses from the recent flooding and typhoon activity in the country, The Insurance Insider understands.
07 February 2011
Chaucer share price spike amid M&A interest
Chaucer's share price has strengthened by more than 5 percent in trading today (7 February) as talk on Lime Street continues to fix on the perennial takeover target
07 February 2011
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