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2008 losses send Advent to £5.5mn Q1 loss
Lloyd's (re)insurer Advent Capital Holdings plc fell to a first quarter pre-tax loss of £5.5mn as it was hit by the succession of heavy industrial catastrophe losses this year, together with deterioration on the 2005-07 underwriting years.
28 April 2008
XL earnings halve in Q1 2008
Bermudian (re)insurer XL Capital Ltd reported a 49 percent drop in net income for the first quarter 2008 on the prior-year period, to $276.9mn or $1.57 per ordinary share.
28 April 2008
WR Berkley recruits former Brit underwriting exec
Former Brit Insurance CEO of global markets Mike Sibthorpe is to join rival US-based WR Berkley, The Insurance Insider can reveal.
28 April 2008
Expansive Cooper Gay mulls IPO for investor exit
Cooper Gay, the London-headquartered broker currently in talks to buy Heath Lambert's wholesale operations, is mulling the possibility of an initial public offering (IPO) as early as this year, according to reports.
28 April 2008
Zurich expands M&A office
Zurich Financial Services Group has grown its M&A practice through the opening of a London office.
28 April 2008
Allianz increases stake in Turkish insurers
German insurance giant Allianz SE has acquired a majority stake in two Turkish insurers from Koc Holding in a deal worth over EUR370mn.
28 April 2008
Price Forbes in Bermuda launch
UK-based wholesale broker Price Forbes & Partners is planning to launch in Bermuda in the second quarter of this year.
28 April 2008
New chief for Market Reform Group
Peter Harmer, CEO of Aon UK, is to become chairman of the London Market Reform Group (MRG).
28 April 2008
Everest Re Q1 profits shrink after underwriting shortfall
Everest Re Group saw profits plummet over $200mn in the first quarter of 2008 to $77.9mn compared to the same period last year.
28 April 2008
IPCRe sees limited impact from large risk losses
Bermudian cat specialist IPCRe reported a rise in first quarter net operating profits from $68.5mn to $92.8mn, despite an active period for natural catastrophe and large risk losses.
28 April 2008
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