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Everest Re establishes EUR200mn Dublin subsidiary
Everest Re Group Ltd has become the latest Bermudian to establish a full European underwriting platform with the launch of a EUR200mn Irish subsidiary.
15 May 2009
Lancashire revenues fall sharply as it withholds capacity
Lancashire Holdings saw its first quarter revenues fall sharply as it said it was holding back capacity to take advantage of “improving opportunities”.
15 May 2009
Lloyd's censures Ark A&H underwriters
Lloyd's has censured three members of Ark Syndicate Management's Accident and Health (A&H) underwriting team for "discreditable and detrimental conduct" following their move to Ark from Travelers' Lloyd's platform in 2007.
14 May 2009
Bucknall to succeed Magnus as chairman of XIS
The joint venture that acts as the clearing house for the London Market, Xchanging Ins-sure Services (XIS), has appointed Richard Bucknall to succeed current chairman Sir Laurie Magnus.
14 May 2009
PE firm says it would like to buy 30% Chaucer stake
Private equity firm Pamplona Capital Management has turned up the pressure in the auction process for Lloyd’s insurer Chaucer Holdings by announcing it is interested in acquiring 29.9 percent stake in the company.
14 May 2009
RSA in £500mn debt raise
UK insurer RSA has raised £500mn of subordinated debt to bolster its financial flexibility ahead of any call on its EUR500mn subordinated guaranteed bonds. A spokesperson said that RSA has the right to buy back its debt in October 2009 but cannot confirm
14 May 2009
Scottish Lion scheme gets 'overwhelming' creditor support
Audley Gilroy-owned discontinued insurer Scottish Lion has applied to the Scottish Court of Session to sanction its proposed solvent scheme of arrangement after receiving “overwhelming support” from its creditors for the proposal...
13 May 2009
Allianz Q1 profit plummets 97 percent as writedowns bite
German insurance giant Allianz saw its net income for the first quarter of 2009 drop by EUR1.12bn to EUR29mn compared to Q1 2008, after writedowns on equities rose to EUR708mn from EUR365mn a year earlier.
13 May 2009
Amlin the latest Lloyd's (re)insurer with a bullish outlook
Amlin plc has followed fellow Lloyd's (re)insurers Hiscox, Brit and Catlin with an upbeat interim management statement that reveals strong top-line growth backed by an improvement in underwriting conditions.
13 May 2009
O'Donohoe quits XL for Torus
Dermot O'Donohoe is set to join Torus on 1 September after resigning as chief underwriting officer of XL Insurance’s global specialty operations and CEO of its London market operations, The Insurance Insider can reveal.
13 May 2009
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