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Lloyd’s Act to be changed
The Act of Parliament that governs Lloyd’s is to be changed to enable the Society to reform its structure and processes, it was announced today.
21 June 2007
Montpelier launches Lloyd’s syndicate
Bermudian firm Montpelier Re has announced the formation of a new £47mn Lloyd’s syndicate which will write non-marine property and engineering business, as predicted by The Insurance Insider in May.
20 June 2007
Guy Carp to mandate ECF
Reinsurance broker Guy Carpenter has said it will mandate the use of Electronic Claims File (ECF) for all in-scope claims from the Lloyd’s markets as of 1 January 2008.
20 June 2007
Gen Re and Arch poaching dispute takes new turn
The alleged poaching dispute between Gen Re and Arch took a new turn yesterday, when the temporary restraining order granted against Arch Capital and four former Gen Re executives in May was lifted and replaced by an agreed-upon order between the parties.
20 June 2007
ZFS upgraded to AA-
Standard & Poor’s (S&P) has raised its counterparty credit and insurer financial strength ratings on Zurich Financial Services (ZFS) from A+ to AA- citing the group’s “major and sustained improvements” in its operating performance.
19 June 2007
DE Shaw in $575mn deal for James River
Giant Bermuda-based investment hedge fund DE Shaw Group agreed a $575mn deal for US property/casualty insurer James River Group last week.
18 June 2007
Gallagher Re appoints chief actuary
Broker Gallagher Re has announced the appointment of Mark Flower as chief actuary for its UK operations.
18 June 2007
FSA assesses private equity risks
UK regulator, the Financial Services Authority (FSA), has said that the biggest threats posed by the current boom in private equity are market abuse and conflicts of interest.
18 June 2007
Sportscover extends network to Ireland
Expanding Australian sports underwriter Sportscover has announced the extension of its network into Ireland after teaming up with broker and sports specialist O’Driscoll O’Neil.
18 June 2007
Carlyle Group shows acquisition appetite
Private equity giant The Carlyle Group has formed a financial services division to concentrate on the insurance and banking sectors, again highlighting investors’ appetite for the industry.
18 June 2007
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