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Beazley confirms rights issue plan
Beazley Group has become the latest Lloyd’s insurer to confirm it is considering a capital raise.
06 February 2009
RBS pulls out of talks to sell insurance units
UK state-controlled bank Royal Bank of Scotland (RBS) has withdrawn from talks with two private equity firms over the sale of its well-regarded insurance units, as first revealed by The Insurance Insider.
05 February 2009
Berkshire Hathaway stake in Swiss Re could top 20%
Swiss Re shares were down by more than 25 percent today as investors digested the potential dilutive effect of Berkshire Hathaway’s latest intervention that could see the investment conglomerate take a stake of more than 20 percent in the reinsurer.
05 February 2009
2006 to the rescue?
Buffy, the long-suffering Lloyd’s Name, is again gloomy…
04 February 2009
London News Digest
PE waits on £5bn+ RBSI bid; Carroll joins Canopius; Hiscox sees 25 percent US peak zone rate increases; Aon Benfield to outsource; Munich Re leads $108mn specie loss; THB profits plunge; Brit bolsters PA with Aon Benfield director
04 February 2009
Stirling Cooke Brown finally liquidated
Stirling Cooke Brown Insurance Brokers Ltd (SCB), the firm at the centre of the notorious personal accident LMX spiral of the late 1990s, was placed into liquidation on 20 January 2009.
04 February 2009
Citadel builds run-off broker platform
Citadel Risk Management acquired "substantially all" of broking group AJ Gallagher's US reinsurance run-off portfolio in a move which the run-off specialist described as an "opportunity to create a run-off sector for the reinsurance intermediary market".
04 February 2009
CHI cat futures storm into 2009
The Chicago Mercantile Exchange (CME) has traded $30mn notional limit of its CHI hurricane cat futures in the first weeks of 2009, as reinsurance broker Carvill withdraws from the initiative which it founded in 2007.
04 February 2009
Allianz prevails in marine reinsurance appeal case
The UK Court of Appeal has upheld a June 2008 High Court judgment that German insurance giant Allianz was entitled to payment from its reinsurer, Greece-based Aigaion Insurance, despite a vital clause...
04 February 2009
SCOR opens 2009 cat bond market
French reinsurer SCOR is set to issue the first transaction to break the stalemate in the insurance linked securities (ILS) market, with a $200mn US wind and quake cat bond expected to close on 5 February.
04 February 2009
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