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Chartis in Lodestone $450mn ‘bargain’ placement
Chartis subsidiary National Union Fire Insurance Company of Pittsburgh (NUFI) last week almost doubled the size of its second Lodestone cat bond issuance, placing $450mn at the expense of the collateralised reinsurance market.
21 December 2010
Besso in takeover talks with UK bank
Independent London market broker Besso is in takeover talks with LDC, the private equity arm of UK bank Lloyds TSB, The Insurance Insider can reveal.
21 December 2010
AM Best turns positive on Swiss Re
AM Best has upgraded the outlook on Swiss Re's A financial strength rating from stable to positive to reflect the action taken by management to repair the business following its difficulties in 2008.
21 December 2010
Generali dips on profit fears
Generali shares came under selling pressure last week, with investors fearful that it may endure impairment charges on its investment portfolio in the last quarter of the year.
21 December 2010
RAA backs federal license proposal
The Reinsurance Association of America (RAA) has thrown its weight behind legislative proposals to license reinsurers at a federal level to create greater global harmonisation of regulatory standards.
21 December 2010
Everest moves for US crop amid agri-M&As
Everest Re Group's approach to buy Kansas-based managing general agent (MGA) Heartland Crop Insurance Inc (HCI) is the latest in a flurry of M&A activity in a US agricultural insurance sector still seen to offer attractive underwriting opportunities.
21 December 2010
US workers’ comp offers glimmer of hope
As generally dire underwriting conditions continue to persist in the US property casualty sector, there are at least signs of encouragement in workers' compensation insurance.
21 December 2010
Shareholder vote leaves little doubt on Brit deal
Little doubt remains on the outcome of the joint Apollo-CVC bid for Brit Insurance after a series of resolutions on the make-up of the board were overwhelmingly approved by shareholders last week (17 December).
21 December 2010
Lloyd's building sale mooted
The current owners of the Lloyd's building have fuelled speculation about the property's future, confirming that its portfolio managers are monitoring the market although it is not "actively" up for sale.
21 December 2010
Hardy share buyback plan swifter than Beazley
Hardy has opened up an early lead over Beazley as the two companies put share buyback plans into effect to help limit the adverse effect of the failed takeover on their share prices.
21 December 2010
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