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SCOR confirms Lloyd's interest
SCOR chairman and CEO Denis Kessler has confirmed the global reinsurer's interest in greater participation in the Lloyd's market, The Insurance Insider can reveal.
06 April 2009
Gulf of Mexico turmoil continues as clients elect to self-insure
As underwriters continue to shy away from the troubled Gulf of Mexico (GOM) wind-exposed energy insurance sector, it seems that buyers are also beginning to vote with their feet and move...
06 April 2009
Former Gen Re unit chief banned by FSA
UK regulator the Financial Services Authority (FSA) has won its case before the Financial Services and Markets Tribunal to ban former General Re executive Milan Vukelic from working in the financial services industry in the UK.
06 April 2009
Swiss Re to cut workforce by 10% under new COO
Swiss Re will cut its workforce by 10 percent over the next 12 months as it looks to reduce costs under its newly appointed chief operating officer Agostino Galvagni.
02 April 2009
FSA green-lights industry guidance on broker commissions
UK regulator the Financial Services Authority (FSA) has formally ratified industry guidance developed by broker trade bodies around transparency, disclosure and conflicts of interest in the commercial insurance market.
01 April 2009
Max plays down rival Validus bid for IPC
Max Capital says it still expects its proposed merger with IPC Holdings to close in the coming months, as it questioned the rationale behind a rival bid for the Bermudian cat specialist from Validus Holdings.
01 April 2009
S&P hits European insurers with downgrades
Standard & Poor’s (S&P) has cut the ratings of a number of European insurers against the backdrop of continued deterioration of financial markets and a rapid contraction in the global economy that combine to “weigh significantly”...
31 March 2009
Validus looks to trump Max with $1.7bn rival IPC bid
Validus Holdings Ltd has come in with a rival offer to Max Capital’s for fellow Bermudian IPC Holdings.
31 March 2009
Towergate and KPMG deny reports of debt restructuring
UK insurance intermediary Towergate Partnership has denied reports that it is drafting in KPMG to advise on restructuring its £560mn in loans and debt facilities which it has used to fund an aggressive acquisition strategy.
30 March 2009
Lloyd's open years shrink further; gross liabilities drop to £2.4bn
Lloyd's posted another sharp fall in the number of run-off or 'open years' of account in 2008, continuing the trend started in 2007.
30 March 2009
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