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  • New Bermudian based (re) insurance group Quanta Capital is set to raise over $600mn in an initial public offering, despite being in existence for only matter of months. On the 24 December 2003, Quanta filed a Form S-1 registration with the US Securiti
  • Alterra Capital has announced combined net pre-tax losses of $26mn-$38mn arising from the first quarter New Zealand and Australia catastrophes, but has said it is too early to produce an estimate for exposures to last week's Japan quake and tsunami
  • Global reinsurance broker Guy Carpenter has pledged to “vigorously defend” a series of devastating allegations launched by Connecticut attorney general Richard Blumenthal who claims the intermediary violated...
  • Aon Benfield has branded the standard formulas proposed for natural catastrophe modelling under Solvency II regulations as a "disappointing backward step" for the industry.
  • Solvency II is the long-awaited, muchdebated new regulatory approach for (re)insurers operating in the EU, but the removal of a key component from the EU Council’s draft text has thrown a major spanner in the works for the progress of the legislation at a time when the theory of regulation based on banking principles is being rethought.
  • UK insurance giant Aviva plc pulled its bid for compatriot Prudential plc on Friday (24 March) after failing to secure the co-operation of its rival. As reported in this publication, Prudential strongly rebuffed the proposed merger last Monday...
  • Sub-prime woes continued at American International Group (AIG), as it reported third quarter operating results below analysts' expectations, compounded by a $352mn pre-tax charge on credit default swaps...
  • Bermudian reinsurer Allied World Assurance Company Holdings (AWAC) announced today (12 July) that shares for its IPO will be priced at $34.
  • Beazley has withdrawn its bid for fellow Lloyd's insurer Hardy after having its third and final 350 pence per share offer rejected at a meeting between the two companies.
  • Andrew Carrier, the former active underwriter of Kiln’s Lloyd’s Syndicate 557 and the reinsurance division of its Syndicate 510, will join Bermudian firm Peleus Re later this year.