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Towergate agrees £95mn deal for Broker Network
UK broking consolidator, Towergate Partnership agreed a £95mn cash offer for Yorkshire-based Broker Network Group last week.
03 December 2007
Catlin's ratings hold on news of $75mn sub-prime hit
Catlin Group Ltd's financial strength and counterparty credit ratings remain unchanged, despite the (re)insurer announcing that it expects to take a $75mn charge against the value of sub-prime-related securities in its investment portfolio.
03 December 2007
Newly formed AIG UK appoints board heavyweights
AIG UK Ltd, one of the UK’s largest commercial non-life insurers, has appointed two new industry heavyweights to its board as part of its transformation into a multi-billion pound, FSA authorised insurance company.
03 December 2007
Chaucer ups dividend by 25 percent
Chaucer Holdings plc became the latest Lloyd's insurer to offer more capital back to shareholders when it promised to increase its total 2007 dividend by 25 percent.
03 December 2007
PWS close to selling trading arms
Specialist broker THB Group plc has entered into talks with PWS Holdings over the acquisition of PWS' Lloyd’s broking business and overseas interests.
03 December 2007
XL's new sidecar gets Moody's rating
Ratings agency Moody's Investor Services has assigned ratings of Ba1, Ba3 and B3 to the three debt tranches in Bermudian (re)insurer XL Capital's new Cyrus Re II sidecar vehicle.
03 December 2007
Groupama to join Euro cat bond issuers with first transaction
Groupama SA is expected to complete its first insurance linked securities transaction shortly, with its proposed securitisation of EUR200mn of French windstorm risk.
03 December 2007
PWS close to selling trading arms
Specialist broker THB Group plc has entered into talks with PWS Holdings over the acquisition of PWS’ Lloyd’s broking business and overseas interests.
30 November 2007
Chinese insurer buys stake in Fortis
Ping An Insurance, China's second largest life insurer, has bought 4.18 percent of Benelux financial services group Fortis, at a cost of EUR1.81bn.
29 November 2007
Consolidators shaping future of SME marketplace
Powerful consolidators are forcing insurers to "fundamentally re-examine their operating models" as they tighten their grip on the commercial SME market, according to the latest research.
29 November 2007
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