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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
Validus $300mn buyback steps up capital return spree
Bermudian (re)insurer Validus Holdings has announced plans to buy back 12mn of its common shares for $300mn, after conducting a modified Dutch auction tender offer.
10 June 2010
Cooper Gay seeks critical mass amid wholesale challenges
Cooper Gay's imminent tie-up with US wholesaler Swett & Crawford comes as London's independent brokers are increasingly squeezed by the rising cost of doing business and dwindling opportunities in a soft market dominated by the big three global players.
09 June 2010
State Farm pulls out of US flood programme as renewal stalls
State Farm, one of the biggest participants in the US National Flood Insurance Program (NFIP), has said it is to stop writing policies under the federal plan, which has become caught in the legislative cogs of Capitol Hill.
09 June 2010
P&C legacy market looks to Germany for growth
Run-off books continue to be bought at a premium to net asset values (NAV), as uncertainty over legacy deals' profitability and the huge untapped German and Swiss markets sparked a lively debate at yesterday's (8 June) The Insurance Insider annual legacy roundtable.
09 June 2010
Marsh goes nuclear
Marsh has formed an international practice for all nuclear clients based outside North America, in an attempt to capitalise on the renewed global appetite for nuclear energy.
08 June 2010
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