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IBM wins race for Lloyd’s Exchange contract
IBM has won the race for Lloyd’s messaging hub contract, as it fought off information technology rival ATOS in the final selection process.
13 January 2009
Lockton ploughs £15mn into international arm
The Lockton family and private equity firm Stone Point Capital have injected fresh capital into Lockton International, the London-headquartered broker acquired in 2006, The Insurance Insider can reveal.
13 January 2009
Mission liquidation yields additional $121mn
The liquidated estate of US workers' compensation insurers Mission Insurance Companies yielded a further $121mn for policyholders, bringing the total amount distributed to approximately $1.5bn.
13 January 2009
R&Q buys Bermuda captive manager
Randall & Quilter (R&Q), the run-off acquisition and management firm, has continued its strategy of acquiring service companies with a deal to pay up to $6.9mn to acquire Bermuda-based Quest Management Services Ltd.
13 January 2009
Compre to build on Nordic acquisitions
UK-based Compre Holdings Ltd has acquired two of Sweden-based Länsförsäkringar AB’s reinsurance subsidiaries in run-off – Stockholm Reinsurance Company Ltd and Wasa International Insurance Company Ltd...
13 January 2009
AJ Gallagher settles with Edgewood
Californian-based brokerage Edgewood Partners Insurance Center (EPIC) has reached a confidential settlement with Arthur J Gallagher & Co, resolving the international broker's pending lawsuit alleging conspiracy and poaching of staff.
13 January 2009
Aon fined as FSA widens anti-bribery net
The record £5.25mn dished out to broker Aon Ltd earlier this month is part of a wider probe by UK regulator the Financial Services Authority (FSA) into the adequacy of anti-bribery systems and controls at brokers.
13 January 2009
Final reinsurer settles North Korea claim
Belgian reinsurer Aviabel has agreed to pay its share of the EUR45mn helicopter crash claim by North Korea’s state insurance company that led to a long-running fraud dispute.
13 January 2009
Hedge fund to build German run-off platform with DARAG deal
German hedge fund Augur Capital has acquired former East German state marine (re)insurer Deutsche Versicherungs-und Rückversicherungs-AG (DARAG), in a potentially landmark deal that could see the discontinued...
13 January 2009
Lehman cat bonds remain 'vulnerable'
Ratings agency Standard & Poor's (S&P) affirmed its junk ratings on three cat bonds affected by the collapse of Lehman Brothers after their total return swaps were terminated and the scheduled 15 December interest payments were met.
13 January 2009
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