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Flynn in as Guy Carp COO after Fry flies
Guy Carpenter has announced that it has named Liz Flynn as Global Chief Operating Officer (COO) as a replacement for Charlie Fry whose departure from MMC's reinsurance broker The Insurance Insider revealed in March.
11 June 2010
Swiss Re pushes industry Chile losses to $6.5bn
Industry declared losses in relation to the Chile earthquake have now reached $6.5bn after Swiss Re became the latest (re)insurer to up its loss estimate, with a new figure of around $630mn.
11 June 2010
Brit up 20% as bid kickstarts market
As the London Stock Exchange opened this morning, Brit Insurance Holdings' share price soared 20 percent to 880p, as investors reacted to the firm's rejection of an unsolicited all-cash bid from private equity group Apollo.
11 June 2010
Apollo tries to land Brit Insurance in £800mn+ bid
Shares in UK insurer Brit Insurance are likely to trade up sharply today after The Insurance Insider revealed yesterday that the firm had received a takeover approach that is thought to be at over a forty percent premium to its closing share price.
11 June 2010
Brit rejects private equity cash approach
Brit Insurance Holdings has confirmed that it has rejected an approach from a private equity group with a potential cash offer, following revelations by The Insurance Insider earlier today (10 June).
10 June 2010
Camomile wins creditors’ go-ahead
The proposed solvent scheme of arrangement for the Camomile Pool companies has won unanimous approval from its creditors at a series of meetings this morning (10 June), The Insurance Insider understands.
10 June 2010
Hampden appoints former Cazenove MD as non-exec
Members' agent Hampden has appointed Hugh Garmoyle, a former managing director at JP Morgan Cazenove, as a non-executive director.
10 June 2010
BP Marsh pumps £1.4mn into Lloyd’s broker
Niche private equity investor BP Marsh has gone into partnership with Randall Goss-led wholesaler US Risk Insurance by taking a significant stake in the latter's Lloyd's broking house, NCG Professional Risks.
10 June 2010
Brit silent on bid approach
Brit Insurance has not responded to a request for comment on suggestions that it recently received a takeover approach.
10 June 2010
Liberty Mutual names Long as president
US insurer Liberty Mutual has named one of its most experienced senior executives, David Long, as group president from 1 July.
10 June 2010
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