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Standard Life buys stake in Chaucer
One of the UK's leading fund managers, Standard Life Investments Ltd has acquired 29 million shares in Lloyd's insurer Chaucer Holdings plc, representing 9 percent of the voting rights in the company.
22 October 2007
'Disappointment' at failure to meet third quarter ECF targets
The London market has missed its 60 percent third quarter target for usage of electronic claims files (ECF) by 15 percentage points, making the year-end target of 100 percent "more challenging", said the Market Reform Group (MRG) in a statement last week.
22 October 2007
Analysts lukewarm over Munich Re's $1.3bn Midland deal
Munich Re's $1.3bn planned purchase of US primary insurer The Midland Company (Midland) met with caution from analysts last week.
22 October 2007
Admiral director stocks up on £2mn of shares
David Stevens, COO of UK niche-branded insurer Admiral Group plc, has purchased £1.9mn of shares in the company, taking the director's shareholding in Admiral to 3.84 percent.
22 October 2007
Aviva in £350mn UK cost cutting programme
Thousands of jobs are under threat at UK household insurer Norwich Union after its parent, Aviva, announced £350mn of cost savings in the UK by the end of 2009.
22 October 2007
Gen Re Fac victory may encourage employers
Gen Re's victory last week in its dispute with Arch Capital Group over the poaching of a thirty strong facultative team will encourage employers concerned about their intellectual property walking out of the door.
22 October 2007
Lehman Bros launches Libero securitisation vehicle
Lehman Bros has been given the green light by the Financial Services Authority to begin trading at its subsidiary Libero Ventures Ltd - a new unit that aims to improve capital efficiency for (re)insurers by shifting exposures to the capital markets.
22 October 2007
Guy Carpenter continues to rebuild Fac team
Reinsurance broker Guy Carpenter & Co has announced two key appointments to its facultative team as it continues to rebuild following a number of senior defections to Integro earlier this year.
22 October 2007
Rolf Tolle embraces new market entrants
New market entrants are "critical to maintaining the attractiveness of the Lloyd’s market", according to the Society's Franchise Performance director, Rolf Tolle.
22 October 2007
Acquisition makes R&SA market leader in British Colombia
UK (re)insurance giant Royal & Sun Alliance (R&SA) has announced that it is to acquire Canadian property casualty insurer Canadian Northern Shield Insurance Company (CNS), in a C$75mn (£37mn) cash deal.
22 October 2007
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