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International briefing
Swiss Re reshuffles financial markets division; SCORing positive; Bermuda awaits 'positive' IMF report; Allianz frees itself from Dresdner drag; Aon faces Statoil tender
08 September 2008
$500m+ Willis PA spiral case includes fraud allegations
Willis Group Ltd is facing a claim in relation to a former reinsurance broker accused of conspiracy to defraud clients, Assurant subsidiaries American Reliable Insurance Company (ARIC) and Bankers Insurance Company Ltd (BICL).
08 September 2008
Fairfax takes controlling stake in Advent
Fairfax Financial Holdings became the latest international (re)insurance group to take a controlling stake in a Lloyd's managing agency after buying out a major shareholder in its long-term partner Advent Capital Holdings plc.
08 September 2008
'Difficult time' for ILS market
The soft traditional reinsurance markets and hard credit markets are dampening 2008 insurance linked securities (ILS) issuance, creating a "difficult and challenging market".
08 September 2008
CJ Coleman wins £2mn PA account
Independent London market broker CJ Coleman has won the DynCorp PA account from Guy Carpenter & Co, The Insurance Insider can reveal.
08 September 2008
Aviation renewals reflect Madrid loss
Last month's air disaster involving a Spanair McDonnell Douglas MD-82 that crashed at Madrid airport, claiming 154 lives, has - at least temporarily - halted the decline in aviation rates at recent renewals.
08 September 2008
Enstar and Goldman tie-up to bid for Travelers portfolio
The race to buy Travelers' long-tail run-off portfolio - Unionamerica Insurance Company Ltd - has been whittled down to the serious bidders, with at least five major players vying for the acquisition, The Insurance Insider has learnt.
08 September 2008
Hiscox faces £40mn Names challenge
Hiscox Ltd remains in discussions with members' agents and Lloyd's over controversial plans to launch a new syndicate backed 100 percent by its own capital to write business currently on its Names-backed Syndicate 33.
08 September 2008
Allianz emerges as RSA stalker
Having finally shed its under-performing banking unit Dresdner Bank for up to EUR9.8bn global insurance giant Allianz has emerged as the frontrunner in bid speculation surrounding a mooted takeover of UK non-life insurer RSA.
08 September 2008
Benfield rejects increased 360p Marsh offer
Last minute negotiating between Benfield chief executive Grahame Chilton and broking giant MMC saw the reinsurance specialist reject an increased 360p a share offer from the New York headquartered firm in favour of Aon's all cash offer.
08 September 2008
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