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Fairfax owns 97% of Odyssey Re after cash offer
Canadian combine Fairfax Financial Holdings (FFH) now owns 97 percent of Odyssey Re following the expiration of its cash tender offer for the remaining shares in its affiliated reinsurer.
26 October 2009
Amlin launches two Irish ILS funds
Amlin-backed dedicated ILS investor Leadenhall Capital Partners has launched two $50mn Irish-based funds.
26 October 2009
Insurers call for 40% greenhouse cuts at Copenhagen
A global coalition of insurers has called on developed countries to agree to a 40 percent cut in greenhouse gas emissions by 2020 at the UN climate change negotiations in Copenhagen in December.
26 October 2009
Further missed AIG payment could trigger Treasury intervention
American International Group (AIG), which received $182.5bn from the federal government's $700bn Troubled Asset Relief Program (TARP), has missed three dividend payments to the Treasury.
26 October 2009
Swiss Re upbeat on European demand; scrutinising pricing conditions
Swiss Re said it is "very well positioned" to enter January 2010 renewal discussions, but will focus on quality instead of quantity as it faces up to the pricing problems in key European markets.
26 October 2009
EU throws VAT curveball at reinsurers
In a reversal of normal industry practice, the European Court of Justice (ECJ) ruled last week (22 October) that VAT is now liable on the cross-border sale of portfolios of reinsurance business
26 October 2009
Brit maxes cat appetite as global markets division shrinks
Lloyd’s (re)insurer Brit has posted an upbeat Q3 management outlook as its reinsurance and UK markets business units achieved strong premium growth to offset declines at its global markets division.
23 October 2009
Pamplona finally ups Chaucer stake to 16%
After a lengthy impasse, Russian-backed private equity firm Pamplona Capital Management has finally upped its shareholding in Lloyd’s insurer Chaucer to 16.27 percent.
23 October 2009
Willis parts company with CFO
Willis CFO and COO Patrick Regan has announced plans to leave the insurance broker to join the world’s fifth largest insurance group, Aviva, as CFO.
23 October 2009
Amlin launches two Irish ILS funds
Amlin-backed dedicated ILS investor Leadenhall Capital Partners has launched two $50mn Irish-based funds.
22 October 2009
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