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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
Australian claims rising after storm
Insurance claims are continuing to rise following severe storms on its East Coast over 9-10 June. The Insurance Council of Australia said the estimated cost of claims from the storm is now A$270mn.
18 June 2007
TRIA hearing due this week
The US Congress is due to discuss an extension to the federal Terrorism Risk Insurance Act (TRIA) that is scheduled to expire at the end of the year.
18 June 2007
Independent reserving falls under trial spotlight
The reserving practices of Independent Insurance came under scrutiny as several of the company’s former claims staff testified in court last week.
18 June 2007
Glacier issues $75mn wind and quake bond
Swiss reinsurer Glacier Re joined the list of carriers accessing the capital markets with a $75mn offering under a shelf programme providing it with retrocession cover from windstorm and earthquakes.
18 June 2007
Nephila launches $310mn Gamut Re
Nephila Capital the Bermuda-based investment manager specialising in catastrophe reinsurance and weather risk, has announced the launch of Gamut Re, a reinsurance vehicle funded using collateralised debt obligations (CDOs).
18 June 2007
Lancashire contingent capital deal likely to usher in new wave
“Class of 2005” insurer Lancashire Holdings Ltd is likely to be the first of a number of insurers structuring contingent capital deals after it co-operated with investment bank JP Morgan to launch a financing deal last week that would allow it to tap the
18 June 2007
Brit CEO honoured by Queen
Brit Insurance chief executive Dane Douetil joined a select club at the weekend – he became one of a limited number of insurance figures ever to be honoured following the publication of the Queen’s birthday honours list.
18 June 2007
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