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Endurance in $25-$30mn Glacier Re renewal rights and retro deal
Bermudian (re)insurer Endurance has bought a part of in run-off Glacier Re's international and US property catastrophe and global specialty reinsurance business through a quota-share treaty and renewal rights deal.
10 September 2010
International digest
Reinsurer capital is still growing; $50mn Caucasus dispute; Stable or stormy; Hannover Re EUR500mn debt; US reinsurance CR 98.7%...
10 September 2010
London Digest
Amlin's US withdrawal is London broker fillip; Ri3K sale; McDonald returns; FAConnect trades on Lloyd's...
10 September 2010
Ecclesiastical to wind down London market operations
Following swiftly in Glacier Re's footsteps, specialist UK insurer Ecclesiastical also plans to begin the run-off of its London market business
10 September 2010
Mixed results for quoted run-off firms
Investment returns is continuing to be a clear differentiator for the quoted run-off firms that posted a mixed bag of 2010 interim results last month
10 September 2010
Glacier Re slides into run-off
Glacier Re's demise as a live underwriter was completed at the end of August with the announcement that its portfolio of business has been placed into run-off with immediate effect
10 September 2010
Aon Benfield and Guy Carpenter create $1bn+ energy liability facility
In an unprecedented move, Aon and MMC have teamed up to create a facility to offer $1bn+ of excess liability cover to oil companies for control of well and pollution clean-up costs, The Insurance Insider can reveal.
10 September 2010
US resistance to exit solutions thawing?
In a potentially pivotal decision, Rhode Island regulators recently gave an initial green light to the first accelerated US run-off plan
10 September 2010
Run-off M&A simmers through the summer
Innovative restructurings and M&A in the run-off market continued this summer demonstrating that, despite its dowdy reputation, the legacy industry continues to embrace new solutions for dealing with old business
10 September 2010
Willis facing September Stanford showdown
This month is set to be a busy one for litigation connected with the collapse of Stanford Financial Group (SFG) and its alleged $7bn+ Ponzi scheme
10 September 2010
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