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Everest downgraded as Barclays Capital queries management changes
Barclays Capital analysts have downgraded their outlook on Bermudian reinsurer Everest Re's stock, despite both Standard & Poor's (S&P) and AM Best saying that they are unconcerned by the unexpected resignation this week of CEO-in-waiting Ralph Jones III.
13 October 2010
S&P raises outlook on Swiss Re
Standard & Poor's (S&P) has raised its outlook on Swiss Re to positive, edging the reinsurer closer to restoring its coveted AA rating.
12 October 2010
Five bidders shortlisted in Quinn auction
The 40 potential buyers vying to acquire troubled Irish insurer Quinn have been whittled down to a shortlist of five that includes Anglo Irish Bank, Travelers Insurance and Liberty Global.
12 October 2010
Zurich strengthens UAE foothold
European insurance giant Zurich Financial Services Group has expanded its operations in the Middle East with the acquisition of 99.98 percent of privately owned Lebanese insurer Compagnie Libanaise D'Assurances.
12 October 2010
Hardy opens in Singapore
Bermudian-headquartered Lloyd's (re)insurer Hardy Underwriting has established a Singapore office within the Lloyd's Asia platform, a move the group said recognises the growing significance of the Asia Pacific economies.
12 October 2010
Everest Re shares fall as anointed CEO steps down
Bermudian reinsurer Everest Re saw its shares fall around 4 percent today after the surprise announcement that its retiring CEO Joseph Taranto would delay his departure following the sudden departure of his heir apparent.
11 October 2010
International digest
Political risk continues to attract new capacity; Ace's M&A shop; Hartford raid; Alpine relocation continues;Way $250mn Lightyears ahead...
11 October 2010
London digest
Bolt to get tough on claims laggards; Big John's back; Playing the Dane; Omega energy team quits; Capita gets Hope
11 October 2010
Broking news in brief
More US broking start-ups emerge; BMS lands former Glencairn CEO Cook; TigerRisk still on prowl in London; Lloyd & Partners boost from JLT's Agnew loss; Hyperion acquires Asian hub Accette
11 October 2010
CRC defections to Ryan followed failed MBO bid
The audacious hire of some 200 executives from US wholesaler CRC by Pat Ryan earlier this year followed a failed management buy-out approach by CRC's senior executives, The Insurance Insider can reveal.
11 October 2010
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