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839 considers RITC
Defying the old adage that "good years get better, and bad years get worse" is Syndicate 839, the former Trenwick Lloyd's operation which managed to post a £12mn profit last year on its 2001 and prior years.
12 July 2007
Legal Briefings
Our monthly column keeping check on US and EU legal and regulatory developments, in association with Sidley Austin LLP
12 July 2007
Lloyd's RITC market continues to grow
The reinsurance-to-close (RITC) of the Duncanson & Holt Syndicate 55 open years is the first third-party RITC this year – and the first to take place under Lloyd’s new rules designed to create greater flexibility in the process.
12 July 2007
CarVal backs Lloyd’s D&H run-off
Capita CMGL is to complete the reinsurance-to-close (RITC) transfer of the run-off Duncanson & Holt Syndicate 55 with capital supplied by CarVal Investors LLC, a fund backed by the agribusiness giant Cargill.
12 July 2007
Lancashire strikes contingent equity deal
"Class of 2005" insurer Lancashire Holdings Ltd bought an option last month to issue up to $49mn of equity any time throughout this year’s hurricane season.
12 July 2007
Gen Re and Arch continue Fac clash
The alleged poaching dispute between Gen Re and Arch took a new turn last month when the temporary restraining order granted against Arch Capital and four former Gen Re executives in May was lifted and replaced...
12 July 2007
Admiral still Confused after minority sale talks end
UK niche-branded insurer, Admiral Group plc today reported that it has ended discussions with potential private equity investors regarding its price aggregator subsidiary, Confused.Com.
12 July 2007
Guy Carpenter recruits execs
Guy Carpenter has swooped for Chris Klein, the chairman of rival Benfield Group's counterparty risk unit.
12 July 2007
Aon brokerage revenues overtake Marsh
Aon Corp's brokerage revenues have outstripped those of its largest rival, Marsh & McLennan, which nevertheless remains at the top of the list of the world’s largest insurance brokers worldwide, thanks to its non-broking units.
12 July 2007
Heritage syndicate merger hits Hampden wall
Lloyd's members' agent Hampden Agencies Ltd is objecting to the proposed merger of AIM-listed insurer Heritage Underwriting Agency plc’s property Syndicate 1200 with its liability Syndicate 3245...
12 July 2007
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