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Ambac disappoints with $1.5bn capital raise
Ambac Assurance Corp, one of the monoline insurance sector's giants, lost 17 percent of its stock market value last week after revealing a $1.5bn recapitalisation plan that disappointed investors hoping for a bigger rescue effort.
10 March 2008
JLT grows top line and boosts 2007 profit
Jardine Lloyd Thompson Group plc's (JLT) 2007 results were welcomed by analysts last week as a sign the firm may have turned the corner following recent restructurings and investments in its trading operations.
10 March 2008
Legal Briefings
Our monthly column keeping a check on recent US and EU legislative and regulatory developments, in association with Sidley Austin LLP
10 March 2008
FSA in run-off claims review
The Financial Services Authority (FSA) is reviewing claims handling in the UK run-off market but denies this reflects concerns about standards among some legacy insurers.
10 March 2008
Allianz forms global legacy unit
Allianz Global Corporate and Specialty (AGCS) has set up a Global Discontinued Business division to handle its vast legacy liabilities, The Insurance Insider has learnt.
10 March 2008
Alea reserves deteriorate
Bermudian-headquartered run-off company Alea Group Holdings' has reported deterioration in its reserves of around $30mn, largely relating to its North American reinsurance portfolio, in its 2007 results.
10 March 2008
Willis captive manager arrested
Willis captive manager Ken MacKay has been arrested for allegedly embezzling more than $2mn from the broker and its clients.
10 March 2008
Aon launches negligence claim against RPC
Aon has brought a negligence case against Reynolds Porter Chamberlain (RPC) following Standard Life's claim against the broker.
10 March 2008
3i ups Jelf stake
Venture capital firm 3i Quoted Private Equity Ltd (3iQPEL) has acquired 1.7 million shares in AIM-listed UK broker Jelf Group plc, taking its stake in the firm to 27.9 percent.
10 March 2008
Reinsurers poised for Florida cat windfall
Fast track legislation to scale back the Florida Hurricane Catastrophe Fund (FHCF) was expected to receive early attention as the state's full legislative session convened on 4 March.
10 March 2008
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