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Swiss Re closes trading desk; re-organises financial markets division
Swiss Re has closed its credit and equity trading desks in a series of moves aimed at retrenching its business to core products, The Insurance Insider can reveal.
12 December 2008
R&Q, Randall victorious in bitter run-off dispute
A bitter dispute involving two run-off giants culminated today in a victory for Randall & Quilter (R&Q) affiliate Cavell USA and R&Q founder Ken Randall against two insurance companies connected to Bermuda-headquartered Enstar Group.
11 December 2008
XL confirms Goldman Sachs appointment, flags Q4 write downs
XL Capital has confirmed that it has hired Goldman Sachs to “explore value-enhancing opportunities” as it hinted at the likelihood of increasing Q4 investment write downs.
11 December 2008
Buffy: All I want for Christmas is a QMR
I had not expected to meet Buffy at the pre-Christmas sales. I thought of ducking behind the cosmetics counter, but it was too late, and to have been discovered in such circumstances would have been humiliating...
09 December 2008
Briefings
Our monthly column keeping a check on recent US and EU legislative and regulatory developments, in association with Sidley Austin LLP...
09 December 2008
No more 2008 cat bonds
Structural issues and confusion over pricing levels have stalled any new catastrophe bond issuance for the remainder of 2008, leaving investors searching the secondary market to deploy excess capital.
09 December 2008
Lloyd's flocks to ILWs as rates leap
Lloyd's and Bermudian (re)insurers are selling Industry Loss Warranty (ILW) capacity as rates surge on the back of a hardening traditional market and a retro crunch caused by the withdrawal of hedge fund capacity.
09 December 2008
Aspen cat bond exposed to troubled Ballantyne Re
Aspen Insurance's $100mn 2007 earthquake cat bond Ajax Re, which has been downgraded by both AM Best and S&P on the back of the Lehman Brothers bankruptcy has suffered a further blow after investors...
09 December 2008
Liddy plans further renegotiation
As American International Group (AIG) continues to move through the phases of last month's revamped rescue package, CEO Ed Liddy said he will reopen negotiations with the US government to improve terms of the deal...
09 December 2008
Eurotunnel claims reach EUR180mn
The insured loss from September's Eurotunnel fire to date has surged to EUR180mn ($231mn), with business interruption losses continuing to bite as the service runs at reduced capacity, according to sources.
09 December 2008
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