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Ironshore closes on Heritage deal
Ironshore Inc is carrying out due diligence on Lloyd's insurer Heritage Underwriting Agency after signing a non-disclosure agreement (NDA), our sister publication The Insurance Insider revealed today.
10 March 2008
Plans to abolish broker status at Lloyd's but no change to annual venture
Lloyd's insurers will be able to accept business from brokers around the world, but the market's unique - and sometimes criticised - capital structure will not be overhauled, according to proposals that were published last week.
10 March 2008
London News Digest
UK takaful start-up finally poised for launch; Amlin: Holt will return; S&P boosts Novae over mooted legacy spin-off; Omega maintains profit record; Marine in Aon job cuts spotlight...
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
Court of Appeal overturns 'follow the settlement' ruling
In an important ruling, the UK’s Court of Appeal has overturned last year's decision in the "follow the settlement" case between reinsurers WASA International Insurance Company Ltd (WASA) and AGF Insurance Ltd against...
10 March 2008
Lehman Brothers venture recruits Matanle
Stephen Matanle, the long-standing Marsh executive who left the firm last month as part of a widespread restructuring, has joined Libero, the new Lehman Brothers business which is spearheading collaboration...
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
Guy Carpenter reclaims New York power base
Marsh & McLennan (MMC) CEO Brian Duperreault has taken further steps to assemble his senior lieutenants around him in New York with key changes at reinsurance broking subsidiary Guy Carpenter.
10 March 2008
Atrium fights second North Korea claim
Ariel Re's specialist Lloyd's (re)insurer Atrium Underwriting is in another dispute with the North Korean state-owned insurer, this time over a train crash claim.
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
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