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Gold rush delayed…
Reinsurance rate increases at 1/1 renewals were relatively modest, and confined largely to peak risk in the US, as a relatively small overall depreciation in industry capital, capacity and risk appetite helped to contain price rises.
13 January 2009
Stephen Way vehicle to raise additional $100mn
Texas-based Southwest Insurance Partners Inc (SWIP) - the insurance investment vehicle led by HCC Insurance founder Stephen Way - has plans for a private offering to raise up to an additional $100mn in capital, The Insurance Insider can reveal.
13 January 2009
First Madoff notifications hit London market
At the time of going to press, London market insurers had received the first Madoff-related notifications on errors and omissions (E&O) and directors' and officers' (D&O) policies.
13 January 2009
AMTrust gears up for 2009 Lloyd's launch
Expansive US insurer AMTrust Financial Services is planning a Lloyd's syndicate launch later this year, The Insurance Insider can reveal.
13 January 2009
New cat bonds to end impasse
Three cat bonds are expected to be brought to market in late January/February raising hopes of dealflow through the insurance linked securities (ILS) pipeline that has been blocked since September last year.
13 January 2009
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
AIG agrees Canadian life sale for $308mn cash
American International Group (AIG) has taken another step in its asset disposal programme with an agreement to sell its Canadian life insurance unit to BMO Financial Group (BMO) for around $308mn.
13 January 2009
Buffy - To ILV or not to ILV?
On recent New Year's days I have had great satisfaction in reflecting on my investment performance during the year just closed. Even my playful portfolio of shares based on the tips of my regular newspaper over the year will have......
13 January 2009
Enstar closes Unionamerica deal
Bermudian run-off acquisitions firm Enstar Group completed its $341.3mn acquisition of Travelers' UK-based unit Unionamerica Holdings Ltd at the end of December.
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
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