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SCA loses $3.1bn Merrill Lynch dispute
Beleaguered bond insurer Security Capital Assurance (SCA) has lost a legal battle with investment banking giant Merrill Lynch & Co over its obligations of up to $3.1bn on credit default swaps (CDS).
16 June 2008
AXA renews EUR61mn motor notes
French insurance giant AXA is re-approaching the capital markets with its third motor insurance securitisation, renewing the EUR61mn Class D notes from its 2007 Sparc transaction.
16 June 2008
Beazley reshuffles senior management
Lloyd's listed (re)insurer Beazley Group plc is to promote group finance director Andrew Horton to take over from Andrew Beazley as its CEO.
16 June 2008
RSA stock buoyed by vague QBE link
In another tough week for the stocks of the UK's quoted non-life insurers, RSA share price was a rare exception buoyed by vague suggestions of a possible bid from QBE.
16 June 2008
US P&C insurers to post 2008 underwriting loss
US property & casualty insurers look set to post a modest underwriting loss and suffer significant reduction in profits and return on surplus for the year, according to Fitch Ratings.
16 June 2008
JLT acquires HWS for £8.75mn
Jardine Lloyd Thompson Group Plc (JLT) has acquired HWS Holdings Ltd (HWS) with its two Lloyd's broker subsidiaries for up to £8.75mn, as predicted by The Insurance Insider.
16 June 2008
Brit invests in SME distribution platform
Brit Insurance Holdings Ltd has acquired a 38 percent stake in online insurance technology platform Xbridge for £7mn in a bid to further capitalise on the micro SME sector.
16 June 2008
New president named at Travelers
The Travelers Companies COO Brian MacLean has also been named president of the group after being promoted from executive vice president.
16 June 2008
Caribbean cat fund renews coverage
All the member governments of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) have renewed their 2008 policies as this year's Atlantic hurricane season gets underway.
16 June 2008
Juniperus makes first investment in sidecar
Alternative investment vehicle Juniperus Insurance Opportunity Fund (JIOF) has made its first investment, of $7.5mn, in Hannover Re's sidecar Globe Re, our sister publication Trading Risk revealed.
16 June 2008
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