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2009 Legacy Survey
We canvass the market on new run-off business opportunities post-credit crunch, the outlook for acquisition pricing, and how live businesses perceive the cost of legacy business in a potentially capital constrained world...
01 March 2009
Hiscox names Dupplin as Bermuda chief
Hiscox has named a successor to Rob Childs as chief executive of its Bermudian subsidiary with the appointment of Charles Dupplin, currently chairman of the Lloyd’s insurer’s Art and Private Client division and director of Mergers and Acquisitions
27 February 2009
Hardy gears up for expansion with £40.3mn capital raise
Hardy Underwriting has become the latest Lloyd’s insurer to undertake capital raising measures with a £40.3mn placing and open offer it says will allow it to take advantage of opportunities from improving market conditions as it prepares to underwrite thr
27 February 2009
RSA bucks trend with upgrade
RSA has joined a small pool of (re)insurers bucking the trend of negative ratings actions with a ratings upgrade of its UK operating subsidiaries by AM Best.
27 February 2009
Hartford loses AA rating
Ratings agency Standard and Poor’s has downgraded troubled US insurer Hartford Financial Services Group’s financial strength ratings to A+ from AA- amid growing concerns over the firm’s capital adequacy.
27 February 2009
Dresdner swings Allianz to worse than expected loss
The cost of casting off its problem child banking arm Dresdner dragged Allianz to a worse than expected full year loss of EUR2.44bn, compared to a net profit of EUR7.97bn in 2007.
26 February 2009
Charles Taylor in advanced talks to buy Axiom Consulting
Charles Taylor Consulting plc is closing in on a deal to buy straitened Axiom Consulting Ltd at a significant discount to the $40mn that private equity firm RJD Partners paid for the outsourcing company in 2004...
26 February 2009
RSA job cuts continue expense cull as profits rise
Despite a stellar set of 2008 results that include a 13 percent rise in pre-tax profits, RSA is to cut 1,200 jobs in the UK by mid 2010 as part of a £70mn cost cutting exercise.
26 February 2009
QBE profits strong on currency gains
Australian property and casualty insurer QBE has posted a solid 2008 performance compared with its peers, with after-tax profits of A$1.86bn as investment losses were offset by foreign exchange gains.
26 February 2009
AIG in break-up talks: reports
The future of American International Group (AIG) hangs in the balance amid reports that the fallen insurance giant is in advanced discussions with the US government that could see it broken up into state-controlled divisions to keep it from bankruptcy.
26 February 2009
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