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Hiscox Childs returns to London
Hiscox Bermuda CEO and chief underwriting officer Robert Childs is to return to London and be replaced by Imagine Group Holdings Ltd's head of underwriting, Robert Forness.
04 August 2008
Stone Point in talks to buy Carvill stake
RK Carvill & Co Ltd has confirmed it is in "exploratory talks" to sell a stake to insurance focussed private equity firm, Stone Point Capital.
04 August 2008
Ascot departures after AIG deal
American International Group (AIG) has been stung by the first wave of high profile departures at Ascot Underwriting, the Lloyd's managing agency it bought out last month.
04 August 2008
Cooper Gay in major outsourcing move
Xchanging has agreed a major outsourcing deal with Cooper Gay, first revealed by The Insurance Insider, which will see 66 of the broker's legacy and ongoing business process staff transfer to the firm.
04 August 2008
XL clients withhold business
New CEO Michael McGavick was quick to acknowledge the influence of rating agency pressure on XL Capital's attempts to secure a solution to relieve it of its SCA exposures, and the size of its capital raise.
04 August 2008
Former Euclidian directors fined and banned from Lloyd’s
Two former directors of failed Lloyd’s insurer Euclidian Underwriting Ltd have been fined, ordered to pay costs and agreed not to transact business at or set foot in Lloyd’s without prior permission after being found to have failed to deal “in a transpare
04 August 2008
Travelers to sell $1.4bn run-off portfolio
Travelers has placed $1.4bn of run-off liabilities that sit in a UK subsidiary up for sale as it hopes to capitalise on the strong interest in acquiring discontinued business.
04 August 2008
Platinum closes $200mn bond
First-time cat bond sponsor Platinum Underwriters Bermuda Ltd issued a $200mn multi peril cat bond in August, affording it cover against US wind and quake, European windstorm and Japanese earthquake.
04 August 2008
RSA set for September showdown in BAE gap finance dispute
A dispute between RSA plc and BAE Systems over a multi-million dollar reinsurance claim on a policy structured to cover revenue shortfalls on aircraft leased for regional routes is to be heard by the courts at the end of September.
04 August 2008
Allstate in £5bn RBS driving seat
"Every little helps" is Tesco's advertising catchphrase but it might also have been coined for Royal Bank of Scotland’s increasingly desperate need to sell-off assets to plug its £6bn+ exposures to the credit crisis and raise its crucial tier 1 capital re
04 August 2008
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