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Gable shares suspended from AIM
Liechtenstein-based liability insurer Gable Insurance had its shares suspended from the AIM stock exchange at 16p after missing the deadline to post its audited results for 2006.
09 July 2007
Aspen enters professional lines
Bermudian firm Aspen Insurance Holdings is to enter the Professional Liability Insurance market later this year through its UK operation.
09 July 2007
Amlin extends distribution with Allied Cedar acquisition
Lloyd’s listed company Amlin plc became the latest insurer to obtain greater control of its distribution networks when it acquired the underwriting agency Allied Cedar Insurance Group last week.
09 July 2007
Motor rates boost as Highway builds Hero
UK motor insurer Highway Insurance Holdings plc said last week that its broking subsidiary has agreed to spend £2mn on a book of 32,000 private car policies from Budget Group-owned intermediary Local Broker.
09 July 2007
Higher retentions seen at mid-year renewals
Insurers are electing to retain more risk, which is fuelling greater competition among reinsurers, according to Willis Re’s review of the mid-year renewals published last week.
09 July 2007
PwC settles Tyco lawsuit for $225mn
Accountancy firm Price Waterhouse Coopers (PwC) has settled a lawsuit for $225mn with fraud-riddled manufacturing conglomerate Tyco International, over claims that it ignored fraud committed by top executives at the firm.
09 July 2007
Hannover Re strengthens Bahrain presence
Hannover Re is to open a branch office in Bahrain to support the (re)takaful business it opened in the kingdom last year.
09 July 2007
Marsh advises on risk transfer approach
Companies who think more astutely about managing their risk exposures will reduce the volatility in the cost of financing risk, according to a report by broker Marsh.
09 July 2007
Travelers in $449mn asbestos settlement
US insurer The Travelers Cos announced last week it has settled one its largest asbestos cases for a total of $449mn.
09 July 2007
Ascot and ACE target renewable energy market
Last week saw the launch of renewable energy underwriting initiatives by Lloyd’s insurer Ascot Underwriting, and ACE European Group in anticipation of growth in the alternative energy sector.
09 July 2007
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