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Ex-Prudential head in life annuity reinsurance deal
Lucida plc, a new insurance company headed by ex-Prudential plc CEO John Bloomer and backed by US hedge fund Cerberus Capital Management, has concluded its first reinsurance deal with Bank of Ireland Life (BOI Life).
21 January 2008
Ambac cancels capital raising to leave ratings on the brink
Monoline bond insurer Ambac Assurance Corporation and subsidiary Ambac Assurance UK Ltd are on the brink of being downgraded after it cancelled its $1bn capital raising plans.
21 January 2008
AM Best affirms property cat specialist New Castle Re
AM Best has affirmed the A- financial strength and a- credit ratings of "Class of 2005" Bermudian property cat reinsurer New Castle Reinsurance Company Ltd, based on strong performance since its launch.
21 January 2008
Bermudians take $200mn hit from Channel Re meltdown
Bermudian firms PartnerRe and RenaissanceRe have announced combined writedowns of more than $200mn from their stakes in financial guarantee reinsurer Channel Re.
21 January 2008
Allstate wins reprieve against Florida suspension
US insurer Allstate Corp has been granted a ten-day stay against a suspension order from the Florida Office of Insurance Regulation (FOIR), enabling it to continue writing new business in the state while it provides the regulator...
21 January 2008
Anti-trust hurdles await Willis approach for MMC
Shares in Marsh & McLennan Group (MMC) spiked to $28.37 Thursday (17 January) - up 8 percent on their opening price - as news broke of an approach from rival Willis Group to open takeover talks for its larger rival.
21 January 2008
AIG leads hull cover on Heathrow crash
US giant American International Group (AIG) leads the hull cover on the British Airways jet that crash-landed at London’s Heathrow Airport yesterday (17 January) while carrying more than 150 passengers.
18 January 2008
Anti-trust hurdles confront Willis’ MMC ambitions
Willis Group is likely to face significant regulatory hurdles if it is to be successful in concluding a possible takeover of its larger rival Marsh & McLennan (MMC).
18 January 2008
Bermudians take $200mn hit from Channel Re meltdown
Bermudian firms PartnerRe and RenaissanceRe have announced combined writedowns of over $200mn from their stakes in financial guarantee reinsurer Channel Re.
17 January 2008
Plumeri mulls spectacular MMC deal
Crystal ball-gazers of broker M&A activity have long predicted that Joe Plumeri has at least one major deal in him before he steps down at Willis Group and it could prove to be a spectacular one.
17 January 2008
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