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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
Markel confident as SGC bond 'fraud' verdict due
Markel International and QBE are thought to be confident ahead of the ruling in their High Court showdown with broker Surety Guarantee Consultants Ltd (SGC) and other defendants over construction bond fraud allegations.
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
London market escapes worst; non-US rates also seeing upwards pressure
The London market is reporting lighter sub-prime related claims experience than US insurers, due mainly to its "limited US portfolios", according to senior market sources.
30 May 2008
Reinsurance giants continue to divide
The world's two largest reinsurers continue to divide analysts over their prospects as they look to ride difficult underwriting conditions and exposure to the wider global economic and credit environment.
30 May 2008
Seaton and Stonewall dispute continues with NY appeal
The private equity owned run-off insurers Seaton Insurance Co and Stonewall Insurance Co have appealed against a New York court decision last month which prevents them from pursuing a claim against a Randall & Quilter (R&Q) affiliate in the US.
30 May 2008
IAG to ring changes in wake of CEO departure
Australian insurer will need to bring shareholders back on side if it is to remain an independent company despite QBE walking away
30 May 2008
Catlin UK chief quits for Jubilee
Former Catlin UK CEO Andreas Loucaides has resigned from the group to take up a new post at Lloyd's insurer Jubilee subject to regulatory approval, The Insurance Insider can reveal.
30 May 2008
Florida 1/6 rates down
The 1 June Florida property cat renewal is expected to have produced average rate reductions of around 15 percent, according to a report from reinsurance broker Guy Carpenter.
30 May 2008
Cash back with new Benfield fund and reinsurer
Benfield has confirmed a tie-up with Michael Cash that sees it invest $50mn in a fund managed by the former RenaissanceRe executive focussing on the collateralised catastrophe reinsurance and insurance linked securities (ILS) markets.
30 May 2008
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