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QBE’s US subsidiaries upgraded
AM Best has upgraded the ratings of QBE subsidiaries Praetorian Insurance Company and NAU Country Insurance Company to reflect the strength they draw from being part of a more diversified international (re)insurer.
04 October 2010
AIG deflates AIA valuation to c.$31bn
American International Group (AIG) has been forced to scale back its valuation of Asian life insurer AIA for its upcoming initial public offering (IPO) in Hong Kong.
04 October 2010
Lightyear Capital in tie-up with HCC founder
Houston-based insurance investment vehicle South West Insurance Partners (SWIP) has confirmed that it is merging with New York-based Lightyear Delos Acquisition Corp.
04 October 2010
Higher claims burden inflicts loss on Hampden vehicle
Lloyd's investment vehicle Hampden Underwriting plc suffered a first-half net loss of £58,000, down from a £138,000 profit a year earlier, as a 27 percent increase in claims took its toll.
04 October 2010
Savage warns that Lloyd’s will intervene over Solvency II
Lloyd's will intervene in the business and capital plans of its managing agents lagging in their preparations for Solvency II, The Insurance Insider can reveal.
04 October 2010
Torus founder Hope joins Capita
It has emerged that David Hope, one of the founders of energy specialist Torus Insurance Holdings, has joined the board of Lloyd's "turnkey" provider Capita Managing Agency as a non-executive director.
04 October 2010
Flagstone appoints new Lloyd’s head
Flagstone Re's Lloyd's subsidiary has replaced its CEO, Dominic Kirby, with its current managing director Karl Grives, it was revealed last week.
04 October 2010
Motor syndicates may make further losses in 2011
Lloyd's two dedicated motor underwriting operations may continue to register underwriting losses in 2011 despite the efforts of their managing agencies.
04 October 2010
Lloyd’s pricing falls in third auction
Pricing fell across the board in the third Lloyd's capacity auction last week, with marked declines for poorly performing syndicates.
04 October 2010
Munich Re edges closer to buying out Names
Munich Re's Lloyd's insurer, Beaufort, has edged closer to the 90 percent ownership threshold of Syndicate 318 that allows a mandatory offer for its remaining third-party capital.
04 October 2010
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