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  • French reinsurer SCOR is set to issue the first transaction to break the stalemate in the insurance linked securities (ILS) market, with a $200mn US wind and quake cat bond expected to close on 5 February.
  • Bermudian (re)insurer AXIS Capital announced last week (15 February) that one of its founders, Trident II, has put 3,150,000 of the company’s shares up for sale in a block trade. The offering will be underwritten by Banc of America Securities...
  • As many as 500,000 homes in the UK could become uninsurable unless the Government takes action to protect them, according to the Association of British Insurers (ABI).
  • The recent reshuffle at the top of Willis Re has sparked talk in the market that Grahame Millwater is being groomed as a potential candidate to succeed Willis chairman and CEO Joe Plumeri.
  • Marsh & McLennan (MMC) has spun off its London-based restructuring and European corporate advisory business in two management buy-outs (MBOs) in a move which will see the majority of Kroll’s team join Zolfo Cooper Europe.
  • US workers comp insurer PMA Capital was successful in reversing an arbitration award to Platinum Underwriters Bermuda after an earlier decision to dismiss the payment was upheld by the US Court of Appeal last week.
  • Despite signs earlier in the year that demand was drying up for the vehicles, a new model of sidecar is emerging, with the recent launch of Mont Gele Re and Emerson Re.
  • Two executives have settled with the Securities and Exchange Commission (SEC) over their roles in the 2001 accounting scandal said to have inflated PNC Financial Corp’s earnings by concealing $762mn in potential liabilities.
  • It's not often that brokers find themselves praising their IT providers but that is exactly what occurred with Willis Group this week.
  • In a move set to add to an already mixed picture of new broker models, Heath Lambert has today published its own system of payment for work carried out on behalf of insurance companies. Using what it describes as its Broker Insurer Services Commission (BI