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Ironshore confirms Dublin move
Bermudian (re)insurer Ironshore has announced the formation of a new subsidiary in Dublin, as revealed exclusively last month by our sister publication Inside Fac.
05 January 2011
News in brief
Swiss Re America head to retire; Fairfield start-up hires Liberty exec; Brit recruits new PI class underwriter; CEO Rowe to retire from CTC by end of 2011; Everest completes crop acquisition
05 January 2011
Enstar takes Hannover Re’s Clarendon for $200mn
Hannover Re has announced that it will sell all operational companies of its US insurer in run-off, Clarendon Insurance Group, to the Bermuda-based legacy specialist Enstar Group.
05 January 2011
Ruxley transfers aviation and general run-off book to Berkshire
Run-off specialist Ruxley Ventures has received approval from the UK High Court of Justice to transfer the assets and liabilities of Aviation & General Insurance Company to a Berkshire Hathaway subsidiary.
05 January 2011
Allstate sues Bank of America and Countrywide
US insurance giant Allstate Co is suing the Bank of America and its subsidiary Countrywide Financial over $700mn in residential mortgage-backed securities it purchased over a two-year period.
05 January 2011
New York AG sues E&Y over Lehman audits
New York Attorney General Andrew Cuomo has filed a suit against Ernst & Young (E&Y) alleging that the "big four" accountancy firm assisted collapsed bank Lehman Brothers in defrauding its shareholders.
05 January 2011
Willis and Berkshire pair up for energy facility
Willis and Berkshire Hathaway are the latest market players to announce a new facility to provide additional underwriting capacity to the oil and gas industry following the Deepwater Horizon catastrophe.
05 January 2011
SII preparation still in early stages among 40% of insurers
With less than two years to go until Solvency II a new survey has found that over 40 percent of insurers have completed less than a quarter of preparatory work.
05 January 2011
Cuomo $120mn parting shot with Ace and Zurich
Outgoing New York Attorney General Andrew Cuomo has capped his period in office in characteristic style by agreeing a $120mn settlement with four insurance groups that he was prosecuting, including Ace and Zurich.
05 January 2011
Extra capacity threatens marine market ballast
A sharp increase in extra capacity continues to flood the marine insurance sector, with all eyes on whether or not this will capsize the market.
05 January 2011
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