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RITC tender for Goshawk and Alleghany begins
All Lloyd's managing agents have been written to inviting approaches for the reinsurance-to-close (RITC) of two of the largest ‘open-year' syndicates, the ill-fated Goshawk 102 and Alleghany 376, The Insurance Insider understands.
14 June 2010
US crop insurers digest watered down reforms
US crop insurers and their reinsurers are digesting a watered down final version of the legislation that governs the relationship between public and private provision of cover.
14 June 2010
TigerRisk wins another key Florida account
Expansive US reinsurance broker TigerRisk has won the account for Florida specialist insurer Homeowners Choice Inc from giant Aon Benfield, The Insurance Insider can reveal.
14 June 2010
Axis settles $399mn Blue City albatross
Axis Capital has settled its political risk/financial credit exposures relating to Blue City, the $20bn real estate project in Oman that has become a totem for the industry's aggressive expansion into writing risky credit insurance in emerging economies.
14 June 2010
The value paradox
We all knew the global P&C (re)insurance sector was trading at historic low valuations, but you only know your sector's really cheap when the private equity boys come knocking on the door.
14 June 2010
Pamplona reported to have abandoned Chaucer play
Russian-backed private equity investor Pamplona Capital Management is reported to have withdrawn its application to the UK's Financial Services Authority (FSA) for approval to build on its 9.99 percent stake in Lloyd's insurer Chaucer.
14 June 2010
Run-off market in Germanic nations leaps to EUR115bn
Continental Europe offers huge opportunities for the run-off industry with the discontinued market in the region's German-speaking countries totalling EUR115bn at the end of 2008, according to a new KPMG survey.
14 June 2010
Bangkok riots burn standalone terrorism market with $1bn bill
The riots in Bangkok last month have burnt the nascent standalone terrorism (re)insurance market with $1bn total losses and the need for a complete overhaul, sister publication Inside FAC has revealed.
14 June 2010
Bulked-up Cooper Gay targets US IPO as early as next year
Cooper Gay is to press ahead with an initial public offering (IPO) in New York as early as next year, once it completes its imminent merger with US wholesaler Swett & Crawford, The Insurance Insider understands.
14 June 2010
Brit shareholders key to £800mn Apollo buy-out
Brit Insurance's key shareholders, including Schroders, Third Avenue, Artisan Partners and Jupiter Asset Management, will be key to the success this week of Apollo Management's £800mn buy-out bid.
14 June 2010
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