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Equitas v Brandywine showdown again delayed
The three-week trial in the long running dispute between Berkshire Hathaway's Equitas and R&Q-owned Brandywine has been further delayed from the 8 June to the 15 June.
01 June 2009
Swiss Re highlights QS surplus relief trend
There was further evidence of the trend for increased use of quota share-style transactions to shore up balance sheets last week as Swiss Re predicted a 5 percent, or $10bn, increase in revenues for reinsurers from the business in 2009.
01 June 2009
Enstar to buy Copenhagen Re for $28mn
Bermuda-headquartered run-off manager Enstar has announced a definitive agreement to purchase defunct Danish reinsurer Copenhagen Re for $28mn, trumping fellow shortlisted bidders Compre and Catalina Holdings.
01 June 2009
$250mn cat bond closes on eve of hurricane season
US military mutual insurer USAA's thirteenth consecutive cat bond, Residential Re 2009, closed last week after further upsizing to $250mn.
01 June 2009
People Moves
AEGIS appoints onshore energy underwriter; Ascot Appoints Mike O’Connor to Terrorism Team...
01 June 2009
Legacy industry prepares for annual pilgrimage
Norwich again becomes the spiritual home of the global legacy market as the industry converges on East Anglia for the Cavell Commutations Rendez-Vous later this month.
01 June 2009
Insurers face Santander claim after $235mn Madoff settlement
Insurers led by Liberty International face a potential payout on Banco Santander's D&O liability insurance after the Spanish bank agreed a $235mn settlement over its Madoff exposures, The Insurance Insider can reveal.
01 June 2009
Axa lead on missing Air France plane
European insurance giant Axa is the lead on the insurance policy for the Air France plane carrying 228 passengers which went missing over the Atlantic Ocean shortly after taking off from Rio de Janeiro at 10pm GMT last night.
01 June 2009
US cat pricing hopes dampened as capacity eases Florida pressure
Writers of US property cat reinsurance expecting rate rises in excess of 20 percent will be disappointed based on the evidence of the key Florida 1.6 renewal, as late arriving new capacity eased pricing pressures.
01 June 2009
Aon Benfield freezes dedicated cat fund; focus now on Juniperus
Global broker Aon Benfield has suspended its fundraising efforts for new investment management firm Global Insurance Strategies LLC (GIS), as it concentrates on Benfield-backed cat fund manager Juniperus Capital Ltd (JCL).
01 June 2009
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