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London News Digest
Latest sat loss adds upward rate pressure;
07 April 2008
Alea finance director resigns
Alea Group CFO and COO, Kirk Lusk, has resigned from the Bermudian-headquartered run-off company.
07 April 2008
Bear Stearns insurer 'not for sale'
Despite reports that run-off unit Minster is up for sale, JP Morgan is unlikely to dispose of the portfolio if its acquisition of Bear Stearns goes ahead, according to an advisor close to the deal.
07 April 2008
Legal Briefings
Our monthly column keeping a check on recent US and EU legislative and regulatory developments, in association with Sidley Austin LLP
07 April 2008
AIG makes $13.5mn settlement with Pennsylvania
US giant American International Group (AIG) has confirmed a $13.5mn settlement payout with the Pennsylvania Insurance Department.
07 April 2008
Argo set for Lloyd's entry with Heritage deal
Shares in Heritage Underwriting Agency plc surged to a record high at the beginning of the month after its board recommended a 154p a share cash offer from Argo Group International Holdings Ltd that is set...
07 April 2008
Tunnicliffe quits Advent
Lloyd’s (re)insurer Advent Underwriting Ltd has been dealt a blow by the sudden resignation of the chief underwriting officer of its Syndicate 780, Lloyd Tunnicliffe.
07 April 2008
International News Digest
Japanese renewals unpredictable following losses; ACE to make Swiss move; Junipurus start-up builds underwriting team; Mapfre appliesfor Brazilian licence; S&P warns on Swiss Re’s missing business...
07 April 2008
OIC and L&O creditors payouts increased
Creditors of OIC Run-Off Ltd (OIC) and The London and Overseas Insurance Company Ltd (L&O) will receive an increased payout of 48 percent, the joint scheme administrator has announced.
07 April 2008
Berkshire takes run-off units in White Mountains exit
Berkshire Hathaway Inc has taken on two of White Mountains Insurance Group Ltd’s run-off units as part of the $836mn that divests it of its stake in the insurer.
07 April 2008
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