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Omega in last-ditch offer to appease shareholders
The board of embattled Omega Insurance Holdings has extended an olive branch to its rebel institutional shareholders to head off a special general meeting (SGM), The Insurance Insider can reveal.
08 January 2010
Aspen-Ariel deal off
Bermudian (re)insurance groups Aspen and Ariel have broken off merger talks, The Insurance Insider can reveal.
08 January 2010
Munich Re forecasts $5bn cat bond issuance in 2010
Munich Re expects the volume of new cat bond issuance in 2010 to be in the region of $5bn while the required spread is expected to fall by some 50 basis points up to the middle of the year.
08 January 2010
Harbor Point renews $100mn retro sidecar
Bermudian Harbor Point has renewed its affiliated collateralised retro facility New Point III Ltd for 2010 with capacity offering aggregate limits totalling up to $100mn.
08 January 2010
People moves
Former Aon COO moves to Liberty Syndicates; Torus promotes Fillingham to UK COO; Lockton appoints trio of US execs; Brit appoints new non-executive; Management changes at XL Latin America
05 January 2010
News in brief
Moody's gives XL a boost; S&P assigns ‘A' rating to Q-Re; NFIP flood scheme extended again; Canopius targets infrastructure projects
05 January 2010
PXRE execs did not deceive over Katrina loss
Investors seeking to overturn the dismissal of a securities fraud class action against executives at failed Bermudian reinsurer PXRE Group have had their appeal rejected.
05 January 2010
GHL sells off Zenith in profit-share deal
Guardian Holdings Ltd (GHL) has disposed of its loss-making Gibraltar-based insurance carrier Zenith Insurance to MarkerStudy Holdings, in exchange for a possible share of any profits the business makes in the next four years.
05 January 2010
$345mn Imperial Sugar settlement leaves bitter aftertaste for (re)insurers
Imperial Sugar settled its property insurance claim relating to the fatal explosion at its plant near Savannah, Georgia for a total of $345mn.
05 January 2010
Marsh continues agency roll-out
Hot on the heels of securing HSBC Insurance Brokers Ltd (HIBL) for £135mn, broker Marsh acquired US independent insurance agency The NIA Group late last year.
05 January 2010
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