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Enstar in $100mn secondary offering
Acquisitive run-off specialist Enstar Group Ltd has announced plans to raise around $105mn with a new public share issue.
26 June 2008
Greenlight for £187mn Marsh outsourcing deal
Capita Group Ltd and Marsh UK have finalised a 10-year outsourcing deal, worth £187mn, that will see around 600 staff transfer to the outsourcing giant, as predicted earlier this week by The Insurance Insider.
26 June 2008
Hawaii makes securitisation easier for captives
Hawaiian governor Linda Lingle has signed a new law making the transfer of insurance-linked securities to the capital markets more efficient for captives.
26 June 2008
KPMG fined £500,000 over failures at Independent Insurance
The auditors of failed insurer Independent Insurance have been fined £500,000 and ordered to pay costs of £1.15mn by the UK accountancy watchdog after a tribunal found the firm's conduct "seriously below the appropriate standard".
25 June 2008
Jardine reappointed LMA chief
Paul Jardine, COO of Catlin Group, has been returned as chairman of the Lloyd's Market Association (LMA).
24 June 2008
Reservation of rights clauses on the increase
A number of leading insurers are supporting an Association of Risk and Insurance Managers (AIRMIC) initiative to limit the potential use of a device that puts the policyholder on notice that the insurer may not accept liability for a particular claim...
23 June 2008
Bermuda to reclassify Class 3 (re)insurers
The Bermuda Monetary Authority (BMA) is proposing a reclassification of Class 3 (re)insurers into sub-classes because of the increasingly broad range of carriers attracted to the island.
23 June 2008
RMS launches risk trading platform
Risk modelling firm Risk Management Solutions (RMS) aims to boost investment in the insurance linked securities (ILS) market with an electronic ILS portfolio management platform.
23 June 2008
UK insurers' claims performance to be benchmarked
The Association of Insurance and Risk Managers (AIRMIC) is to publish an index which will allow its members to assess how insurers pay claims.
23 June 2008
SEC green light to prosecute Stanard
Former RenaissanceRe CEO James Stanard has failed in his attempt to have the Securities and Exchanges Commission's (SEC) fraud allegations against him dismissed.
23 June 2008
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