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BLG parts company with reinsurance head
Barlow Lyde & Gilbert (BLG) has parted company with the former head of its reinsurance arm, Colin Croly.
23 March 2009
Bermuda consolidation to continue: Wilbur Ross
Bermuda could be set for further M&A activity as billionaire investor Wilbur Ross said he is looking at buying and merging reinsurance companies with market caps of $1bn-$2bn.
23 March 2009
Solvency II to create new capital pressures for run-off industry
Solvency II could “punish” the legacy industry by imposing much greater capital requirements on discontinued books of business, attendees at the Cologne Commutations Rendez-Vous were warned last week.
23 March 2009
Citizens to sell $2.5bn bonds to fund hurricane claims
Florida's state-run property insurer, Citizens Property Insurance Corp, is set to sell $2.5bn of pre-event bonds to raise funds for potential claims arising out of the forthcoming hurricane season.
23 March 2009
GAUM leads $65mn FedEx Tokyo aviation loss
London-based aviation MGA, Global Aerospace Underwriting Managers (GAUM) is the lead insurer and Aon the broker for the Federal Express (FedEX) cargo plane that crashed at 0650 local time today (23 March) at Tokyo's Narita airport
23 March 2009
Lloyd's insurer has £300mn price target
Chaucer Holdings – the UK-quoted insurer which is currently considering bid interest – could become the latest chapter in the Lloyd's M&A saga that has seen the takeover of a flurry of Lime Street insurers in the past two years.
23 March 2009
Ascot closes bumper 2006 year with AIU confidence vote
Ascot Underwriting - the Lloyd's insurer owned by American International Group (AIG) - has unveiled better than forecast profits on its Syndicate 1414 for the 2006 year of account.
23 March 2009
Turner attacks passporting
Lord Adair Turner, chairman of UK regulator the Financial Services Authority (FSA), has attacked the current European system of cross-border regulation while calling for a revolution in global financial controls.
23 March 2009
US P&C reserves dwindle in '08: Moody’s
Moody's has expressed concerns over reserves at US property casualty (P&C) insurers, which it says slid from a "comfortable redundancy" to "close to breakeven" during the second half of 2008, as companies released reserves to bolster earnings.
23 March 2009
Founding CEO Deutsch in Ironshore exit
Founding Ironshore Inc executive Bob Deutsch is leaving the Bermudian insurer.
23 March 2009
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