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PARIS RE loses in dollar move
Foreign exchange losses sent PARIS RE to a $129.5mn first quarter net loss under IFRS reporting, against a comparable prior-year period net profit of $35.7mn.
19 May 2008
ISG to write live Louisiana business after Whittington deal
Independent Services Group (ISG) is to launch a homeowners insurance business in Louisiana after agreeing a deal to buy run-off US insurer Americas Insurance Company (AIC) from insurance services company Whittington Group.
19 May 2008
European investors take 40 percent of Japanese quake bond
Munich Re Capital Markets placed "just under 40 percent" of the $300mn Muteki cat bond, revealed by our sister publication Trading Risk last week, with investors in the European Union and Switzerland.
19 May 2008
Amlin underwriting chief sells over £5.5mn of stock
Amlin's head of underwriting Tony Holt has sold £5.77mn worth of company shares - the vast majority of his holding - in a move that may further fuel speculation over his future at the Lloyd's insurer.
19 May 2008
Proposed Heath Lambert sale threatened by objections
The proposed sale of Heath Lambert's wholesale operations to Cooper Gay is coming under further pressure as executive opposition to the deal increases at the broker, The Insurance Insider can reveal.
19 May 2008
New York court dismisses fraud case against Cavell USA
A New York Federal court has dismissed fraudulent misconduct claims against Cavell USA Inc – an affiliate of Brandywine owner Randall & Quilter – and its chairman Ken Randall brought by US run-off insurers Seaton Insurance Company and Stonewall Insurance
19 May 2008
Fresh QBE bid falls short of IAG's expectations
An improved merger bid for Insurance Australia Group (IAG) from QBE Insurance is likely to fall short of its own "fair value" of the business, the company has indicated.
19 May 2008
ACE expands Middle Eastern operations
ACE Group has expanded its presence in the Middle East with the launch of two new subsidiaries.
19 May 2008
Florida stays Allstate ban
Florida insurance commissioner Kevin McCarty has stayed an order suspending Allstate's ability to sell new business in the state, according to reports.
19 May 2008
Aspen in $300mn share buyback
Aspen Insurance Holdings Ltd has announced a $300mn share buyback, which will include a deal to repurchase around 4.1 million shares from one of its founding private equity backers, Candover Partners Ltd.
19 May 2008
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