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AIG shares continue slide following giant credit shock
American International Group's (AIG) assertion that the giant $11.12bn pre-tax write down on its credit default swap (CDS) book will reverse over time has done little to arrest the sharp slide in its share price.
10 March 2008
Open years slashed as Lloyd's RITC deals mount
A surge of reinsurance-to-close (RITC) deals is set to slash the number of open years at Lloyd's, providing finality for third party investors including the legions of Lloyd's Names who underwrote on the syndicates now effectively in run-off.
10 March 2008
Benfield facing day of scrutiny
Investors looking beyond capital repatriation for share price momentum when 2007 results are published
10 March 2008
Carvill CEO relocates to Bermuda
John Cavanagh, joint CEO of reinsurance intermediary RK Carvill, has moved to Bermuda in a bid to increase the firm's distribution on the island and further expand into the US market.
10 March 2008
Ironshore makes M&A Heritage breakthrough
Lloyd's insurer looks poised to become the next overseas acquisition with new interest from Bermudian predators
10 March 2008
Gable appoints new chairman
Liechtenstein-based liability insurer Gable Insurance has appointed Lance Ranger as its new chairman.
10 March 2008
Spitzer in prostitution scandal; report
New York state governor and former attorney general Eliot Spitzer has been caught arranging to meet a high-priced prostitute at a Washington hotel last month, according to reports from the New York Times.
10 March 2008
Solvency II to fuel European M&A
The introduction of the European Union (EU) Solvency II directive in 2010 will have little immediate impact on credit ratings of European insurers but many fuel merger and acquisition (M&A) activity, according to a report by Fitch Ratings.
10 March 2008
Tokio buy-out sees Kiln delist
Today (10 March) is the last day of dealing in Lloyd’s (re)insurer Kiln shares ahead of the company's acquisition by Tokio Marine.
10 March 2008
AXA buys UK broker SBJ Group for £158mn
The terms of the offer by French insurance giant AXA to acquire 100 percent of UK broker SBJ Group Ltd values the intermediary at more than twice its 2006 reported turnover of £76.14mn.
10 March 2008
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