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Schemes face US collateral requirements obstacle
Reinsurers wishing to utilise solvent schemes of arrangement involving US cedants have been dealt a blow by a provision in the proposed framework setting collateral requirements for non-US entities.
13 January 2009
Apollo and BC Partners bid to land £5-6bn RBSI prize
US private equity firm Apollo, in partnership with BC Partners, is poised to lodge a formal bid later this month to acquire a majority stake in Royal Bank of Scotland's up-for-sale insurance units, after a month of exclusive talks.
13 January 2009
New fund to capitalise on retro crunch takes hold
Insurance-linked investment fund Clariden Leu is launching a specialist industry loss warranty (ILW) fund for 2009, seeking to capitalise on a retro capacity crunch.
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
Variable annuities: the gathering $232bn storm
As stock market indices around the globe recorded the worst calendar year declines in their histories, spreads widened to epic proportions and corporate bond values took a nosedive, major players in the US life (re)insurance market...
13 January 2009
(Re)insurers braced for $2.5bn Madoff deluge
On top of the estimated $10-12bn of directors' and officers' (D&O) and errors and omissions (E&O) credit crunch-related losses, the embattled professional and management liability insurance sector is bracing itself...
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
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
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
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