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Transatlantic Re CEO welcomes 'new era'; stock up 12 percent
Transatlantic Holdings president and CEO Robert Orlich has written to the firm's clients applauding the successful sale of American International Group's (AIG) majority stake this week, saying its new independent status marks a "new era" for the firm.
12 June 2009
AIG closes sale of majority stake in Transatlantic
Transatlantic Holdings president and CEO Robert Orlich issued an open letter to the reinsurers’ clients and brokers after American International Group (AIG) closed its sale of 29.9 million shares at $38 each...
12 June 2009
IPC shareholders vote against tie-up with Max
Max Capital has withdrawn its merger agreement and plan of amalgamation with fellow Bermudian reinsurer IPC Holdings, after IPC shareholders did not approve the required proposals at IPC's annual general meeting today (12 June).
12 June 2009
Willis in $139mn PA LMX settlement
Willis will pay $139mn to settle part of a longstanding dispute arising from its involvement in the infamous London market personal accident (PA) reinsurance spiral of the late 1990s.
11 June 2009
Judge rules against BMS in CJC contempt case
A high court judge today rejected London market broker BMS Group's application to commit rival CJ Coleman (CJC) and John McCormack for contempt of court...
10 June 2009
XL fights to keep D&O share with $240mn Berkshire Hathaway deal
XL Capital has teamed up with the higher rated National Indemnity Company (NIC) to back-up its Side A directors’ and officers’ (D&O) policies in the event the Bermudian firm goes bust.
10 June 2009
Cavell Rendez-Vous: Back to reality in run-off pricing
The heady days of paying a premium to net asset value (NAV) are over as pricing discipline returns to the legacy market, according to a group of senior industry figures taking part in The Insurance Insider roundtable...
09 June 2009
R&Q acquires Woolworths captive
Legacy manager Randall and Quilter (R&Q) has extended its offering into the captive market with the acquisition of the captive insurance company of Woolworths Group, Woolworths Insurance (Guernsey), from its administrators, Deloitte.
09 June 2009
Dewey & LeBoeuf faces $3bn lawsuit
International law firm Dewey & LeBoeuf LLP (D&L) has been filed with a staggering $3bn lawsuit brought by the Missouri Department of Insurance and liquidator Albert Riederer, over claims it "misadvised" defunct US life insurer General American (GA).
08 June 2009
Briefings
Our monthly column keeping a check on recent US and EU legislative and regulatory developments, in association with Sidley Austin LLP.
08 June 2009
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