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RBS stock plummets as suitors dwindle
The Royal Bank of Scotland's (RBS) share price plummeted as Ping An became the latest potential bidder to drop out of the auction for the bank's insurance operation.
02 June 2008
Ex GoshawK chief leads $197mn Quanta buyout
Failed Bermudian (re)insurer Quanta Capital Holdings is to be sold in a $197mn deal to Catalina Holdings (Bermuda), the run-off acquisition company headed by former GoshawK chief executive Chris Fagan.
02 June 2008
Towergate profits up as Snowball steps down
Towergate Partnership's pre-tax profits increased by 14.9 percent to more than £100mn in 2007 compared to the previous year, while deputy chairman Patrick Snowball has resigned from its board, the company announced.
02 June 2008
Insider on ARC awards panel
The Association of Run-off Companies (ARC) has called upon expertise from across the industry to judge its Awards for Excellence in Legacy Management this year.
30 May 2008
International News Digest
Guy Carp appoints new Americas chief; Quake to cost Chinese insurers $43mn; Aon receives Saudi approval; EC welcomes subscription market response; Munich Re receives Brazil approval; Swiss Re warns on reserves; Monolines' further losses
30 May 2008
Results mixed for European insurers
Allianz Group's burdensome relationship with subsidiary Dresdner Bank continued with first quarter results hit by a EUR845mn write-down at the banking arm in "difficult market conditions".
30 May 2008
Brit provides capacity for JLT’s new SME facility
Brit Insurance Holdings Plc has signed an agreement with Jardine Lloyd Thompson (JLT) to provide capacity for the broker's new "micro-SME" facility.
30 May 2008
Suncorp Metway scheme will not proceed: sources
The solvent scheme of arrangement for Australian insurer Suncorp Metway Insurance Company is unlikely to proceed after gaining insufficient support.
30 May 2008
Gallagher poised to launch 'boutique' energy unit
Arthur J Gallagher International has welcomed aboard Simon Matson, who was due to join the firm’s new joint venture onshore/offshore "boutique" energy subsidiary on 2 June, The Insurance Insider can reveal.
30 May 2008
Credit markets stabilise but insurers' work just starting
Despite US Treasury Secretary Henry Paulson’s recent comments that "we are seeing signs of progress as capital and credit markets stabilise", the (re)insurance market will "feel the effects for some time to come", according to experts.
30 May 2008
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