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Ironshore makes approach for Lloyd's insurer Heritage
AIM listed Heritage rejects approach; Ironshore remains interested
06 December 2007
Marsh UK considers landmark outsourcing deal
Marsh UK is mulling a major overhaul of its embedded legacy burden with the outsourcing of its entire back office, The Insurance Insider can reveal.
06 December 2007
Sphere Drake Scheme sanctioned
The proposed Scheme of Arrangement for Sphere Drake, part of the WFUM pool, was sanctioned in the UK High Court on 6 November.
06 December 2007
Fairness of schemes of arrangement questioned
The dusty arguments over the UK’s ability to wind up solvent (re)insurance companies through a process called schemes of arrangement were given a fresh airing last month at the Mealey's Global Reinsurance Forum in Bermuda.
06 December 2007
Buffett to be called in finite trial
US prosecutors have named Berkshire Hathaway chairman Warren Buffett as a witness in the criminal trial of former General Re and American International Group (AIG) executives.
06 December 2007
London News Digest
Gallagher 'not thrilled' with reinsurance results; Newly formed AIG UK appoints board heavyweights; Hardy outlines Bermuda redomiciliation plan; Levene says tax break still on...
06 December 2007
International News Digest
AIG leads Turkish crash cover; Earthquake triggered Caribbean cat fund; Ping An takes Fortis stake; Aon raids Willis for construction executives...
06 December 2007
Reinsureds at risk from misrepresentation
A recent UK High Court decision has outlined the dangers to reinsureds of making misrepresentations to their reinsurers either directly or through a broker.
06 December 2007
AXA Re ordered to pay Anglo American $57mn in reinsurance dispute
Reinsurers have been ordered to settle a $57mn disputed all risks reinsurance claim with global mining giant Anglo American's captive insurance company Coromin.
06 December 2007
Heritage admits approach
Heritage Underwriting Agency plc, the specialist Lloyd’s insurer, has admitted receiving an "indicative proposal" but says the "the price contained within the proposal significantly undervalues the company".
06 December 2007
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