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Capita CMGL confirms D&H open year deal
Capita CMGL has confirmed the reinsurance to close (RITC) transfer of the run-off Duncanson & Holt Syndicate 55 to a new Lloyd’s syndicate backed by CarVal Investors LLC, as first revealed in the July issue of The Insurance Insider.
23 July 2007
Bermuda’s (re)insurers expected to ride storms as Q2 figures roll out
Although (re)insurers are expected to unveil strong figures as the reporting season begins in earnest this week, analysts will assess the wider impact from high-profile second quarter catastrophe events in the UK and Australia following IPCRe’s...
23 July 2007
GLM scheme sanctioned by court
A solvent scheme of arrangement for the reinsurance business written through the GLM Pool was sanctioned by the UK High Court in London earlier this month.
23 July 2007
AIG faces $100mn Minnesota lawsuit
Insurance giant American International Group (AIG) is facing lawsuits from two Minnesota workers compensation insurance associations seeking $100mn in damages for alleged fraudulent business practices, according to reports.
23 July 2007
Shares slip as analyst says Everest summit reached
Shares in Bermudian reinsurer Everest Re Group Ltd slipped after a Bear Stearns analyst downgraded the company on "limited growth opportunities and declining profitability".
23 July 2007
PRISM model to change insurers’ risk assessment
Fitch Ratings next-generation stochastic capital model, PRISM, will change the way risk is assessed for (re)insurers, the rating agency has claimed.
23 July 2007
IPC earnings hit by global cat events
Bermudian reinsurer IPCRe warned last week that its 2007 profits would be affected by the recent storm and flood events on opposite sides of the globe in the UK and Australia.
23 July 2007
Atrium deal to test Names’ capacity valuations
The value of Names’ right to participate on Lloyd’s syndicates could be put to the test after the £193.2mn deal between Bermudian firm Ariel Re and Atrium Underwriting plc (see article 2).
23 July 2007
Florida cat fund to bulk up with bond issue
State-backed Florida Hurricane Catastrophe Fund (FHCF) is planning to bolster its cash reserves with a potential $10bn bond issuance.
23 July 2007
JLT buys Park Bermuda for $11.8mn
UK-listed broker Jardine Lloyd Thompson (JLT) has expanded its Bermudian operations with the acquisition of Park (Bermuda) Ltd (Park) for up to $11.8mn cash.
23 July 2007
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