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Candover eyes 25 percent stake in Towergate
The elusive value of acquisitive intermediary Towergate Partnership could be starting to crystallise after reports that executive chairman Peter Cullum is in talks to sell a 25 percent stake to a private equity group.
25 February 2008
Giles Insurance Brokers in £185mn private equity deal
Acquisitive consolidator Giles Insurance Brokers Ltd is being purchased for £185mn by private-equity group Charterhouse Capital Partners, according to reports.
25 February 2008
Catlin closes second Newton Re cat bond
Catlin Group Ltd has closed its latest Newton Re cat bond transaction, as reported in our sister publication Trading Risk, with $150mn of 2008-1 Class A principal at risk variable notes affording three years of protection against...
25 February 2008
City Police investigate Indonesia bribery allegations
Allegations of overseas corruption have again led to arrests of London market insurance brokers.
25 February 2008
Florida cat fund u-turn passes key hurdle
A scaling back of the Florida Hurricane Catastrophe Fund (FHCF) looks closer after legislation cleared its first hurdle in the state's House of Representatives last Thursday.
25 February 2008
Aon buys Gallagher Re for an estimated $38mn
Aon Corp has bought Chicago neighbour AJ Gallagher & Co's (AJG) reinsurance arm Gallagher Re - in a move first predicted by The Insurance Insider.
25 February 2008
London approaches end of paper premiums
The London market has moved a step closer to eliminating paper from premium processing, according to the Market Reform Group (MRG).
25 February 2008
Jury change delays Gen Re verdict
A change to the jury last week has caused a delay in reaching a verdict in the trial of Gen Re and American International Group (AIG) executives over an allegedly sham finite reinsurance contract.
25 February 2008
Munich Re beats profit target despite higher combined ratio
Munich Re beat its increased profit projections for 2007 as it booked a consolidated result of EUR3.9bn for the year, up 11.9 percent on 2006.
25 February 2008
Swiss Re joins flock to Brazil
Swiss Re has joined a growing pool of major market players setting up as admitted carriers in the deregulated Brazilian market.
25 February 2008
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