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Byrne cashes out $24mn share in Flagstone Re
Flagstone Re founder Mark Byrne, who stepped down as executive chairman of the Bermudian earlier this week, will receive a $2.2mn cash "goodbye" and has already cashed in $24mn worth of his original investment in the (re)insurer.
27 May 2010
PSAs: Counting the cost of Spitzer
In contrast to Insider Week’s sister publication The Insurance Insider, analysts at US investment house Prudential Equity believe that the global brokers have only a marginal reliance on so-called Placement Service Agreements for their revenue.
24 May 2004
Montreal Convention called into question by aviation liability ruling
A UK judge's ruling on the preliminary issues in a passenger aviation claim could have far-reaching ramifications for insurers, after it was decided that the Montreal Convention may not provide an exclusive remedy in awarding compensation for air disaster victims.
26 April 2010
Consolidation fuels centralised reinsurance buying trend
Willis Re CEO John Cavanagh says consolidation amongst larger global insurers is driving the trend towards more centralised reinsurance buying.
28 November 2012
Another Madoff employee facing SEC charges
The US Securities and Exchange Commission (SEC) has charged another long-term employee of Bernie Madoff for facilitating the work of the swindler's massive Ponzi scheme.
28 November 2011
Catco takes funds to $900mn on further $375mn raise
Collateralised retrocession writer Catco has attracted at least $375mn from a new fundraising round, putting the firm's reinsurance funds under management at nearly $900mn in its first year.
28 November 2011
Tokio Marine’s quake loss soars by $780mn
Tokio Marine's net loss from the Great East Japan earthquake has grown from 90bn yen ($1.2bn) to 150bn yen ($1.9bn) in the months following the catastrophe.
28 November 2011
The Insurance Insider London market survey
Our 2006 London Market survey has provided interesting feedback on the structure of the market, the demise of Kinnect, the rise of the "gang of six" and the possible solutions available. Opinion is divided, however, in terms of the e-business...
18 April 2006
Lloyd's should get tougher on LMP implementation, says Prettejohn
Earlier in the day, Lloyd's CEO Nick Prettejohn had warned the audience of the market's need to change its behaviour in 2004 if it wished to avoid excessive swings in the cycle. He said 2004 was "a year of choice", in which insurers were "skirmishing w
01 May 2004
Freshfields report: Marsh Ltd’s clients were steered but not prejudiced
All leave had been cancelled for Marsh Ltd’s London brokers at the end of last week as the firm steeled itself for the results of the investigation into its London market practices, but in the end the Freshfields Bruckhaus Deringer-produced 12-page report
06 December 2004
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