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Babcock hedges pension liabilities with longevity swap
UK-based engineering support services firm Babcock International Group plc is pioneering a £500mn longevity swap with Credit Suisse - the first in a series of transactions designed to hedge 45 percent of its £1.7bn defined pension liabilities.
18 May 2009
Arig returns to profit in Q1
Bahrain-based reinsurer Arig posted a first quarter net profit of $1.48mn, half the $2.96mn it posted for the first three months of 2008 but nevertheless a return to profit after it booked a full-year loss of $28.57mn last year.
18 May 2009
Stanford CIO criminally indicted
Laura Pendergest-Holt, the chief investment officer for Stanford Financial Group, has been indicted by a Houston federal grand jury on charges of obstruction of justice and conspiracy to obstruct justice.
18 May 2009
Swiss Re shares volatile on equity issue rumours
After a recent surge, shares in Swiss Re took a volatile path last week as reports that the reinsurance giant was looking to undertake an equity issue at SFr32 compounded a stockbroker downgrade.
18 May 2009
All eyes on Brit over Chaucer interest; shareholders reveal their disapproval
Following private equity firm Pamplona Capital Management's announcement last week that it would like to acquire a 29.9 percent stake in Lloyd’s insurer Chaucer Holdings, all eyes are on Brit Insurance...
18 May 2009
Guy Carpenter parachutes Newhouse into London
Guy Carpenter chairman Britt Newhouse is relocating to London as the reinsurance broker looks to bolster the management structure of its European operations, The Insurance Insider can reveal.
18 May 2009
AIG looks for early Asian life IPO; downgraded by Fitch
American International Group (AIG) is speeding up plans to reposition its Asian life insurance operations as an independent company that will include a multi-billion dollar initial public offering (IPO).
18 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.
18 May 2009
Great American seeks judicial oversight in Greenberg D&O dispute
Great American Insurance has asked for a judge to decide the outcome of a $15mn claim from a directors' and officers' (D&O) insurance policy that relates to an ongoing dispute with American International Group...
18 May 2009
Fox breaks cover at HSBC
Adrian Fox, the financial institutions (FI) specialist who resigned from Aspen Insurance Holdings in March, has re-emerged at HSBC Insurance Brokers.
18 May 2009
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