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Towergate 'over-priced' after £800mn sale talks collapse
The breakdown of stake holding talks between Towergate and private equity group Candover is likely to be a result of the insurance intermediary's over-valuation, according to an investor source.
31 March 2008
IG fights back over Aon P&I criticisms
The International Group of P&I (protection & indemnity) Clubs (IG) has fought back over criticisms by broker Aon of its reinsurance renewal.
31 March 2008
Lloyd's expected to beat 06 profits
The Lloyd's market's profitability for 2007 is expected to be "ahead of 2006", buoyed by the stellar results recently reported by individual members of the Society, according to Numis Securities analyst, Nick Johnson.
31 March 2008
Aspen goes full circle with Lloyd's start-up
Aspen Insurance Holdings Ltd has become the latest Bermudian to establish a Lloyd's presence with the launch of start-up Syndicate 4711.
31 March 2008
Japan follows downward rate trend
Reinsurers have seen rates fall by up to 10 percent during the 1/4 Japanese renewal season, according to reinsurance broker Guy Carpenter.
31 March 2008
Mittal takes 9.82 percent stake in run-off consolidator
UK-listed run-off consolidator Tawa plc is part funding its acquisition of failed Bermudian PXRE Reinsurance Company with $14.4mn investment from a trust owned by billionaire steel magnate Lakshmi Mittal family members.
31 March 2008
AIG sues Greenberg over 'misappropriation' of shares
American International Group (AIG) has filed a lawsuit against its former CEO and chairman Maurice “Hank” Greenberg as part of its long-running legal battle over ownership of shares in the US giant.
27 March 2008
SCA junk downgrade to ‘weigh on’ XL shares
Fitch Ratings move to downgrade ratings on Security Capital Assurance Ltd (SCA) and its bond and financial guarantee (re)insurance subsidiaries to junk bond status may weigh on affiliated Bermudian (re)insurer XL Capital, according to analysts.
27 March 2008
LMBC elects new chairman
Aon Limited deputy chairman Jonathan Palmer-Brown has been elected as chairman of the London Market Insurance Brokers’ Committee (LMBC).
27 March 2008
Gallagher completes reinsurance sale
US broker Arthur J Gallagher & Co has completed the $40mn divestment of its reinsurance arm to Aon Corp.
27 March 2008
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