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Hurricane season to challenge US insurers
The North Atlantic hurricane season, which officially began on 1 June, will present US insurers with a number of legal and meteorological challenges, according to a report by Fitch Ratings.
11 June 2007
AXA motors with EUR450mn securitisation
In what is developing into another defining year for the insurance linked securities (ILS) market, a number of significant transactions were concluded in recent weeks highlighting the broadening scope of alternative capital markets...
11 June 2007
RK Carvill wins XL reinsurance dispute
RK Carvill's acrimonious "commissions" dispute with XL Capital has been settled after a US court ruled that the Bermudian insurer should pay $5mn in damages to the reinsurance broker.
11 June 2007
RenRe launches $375mn Starbound II
RenaissanceRe confirmed the launch of its second Florida-dedicated sidecar in another sign that the impact of the state's hurricane catastrophe fund expansion earlier this year may be less severe than first feared.
11 June 2007
Krall to leave Converium
Converium Holdings has announced that its chief risk officer, Markus Krall, will leave at the end of June citing personal reasons.
11 June 2007
Jardine elected as LMA chairman
Catlin Underwriting Agencies CEO, Paul Jardine has been elected as the new chairman of the Lloyd’s Market Association (LMA) to replace ACE Europe’s CEO and chairman Andrew Kendrick.
11 June 2007
R&SA goes east with joint venture
Royal & Sun Alliance Insurance Group plc (R&SA) has entered into an agreement to acquire 50 percent of a company giving it access the fast growing Eastern European and Russian insurance markets.
11 June 2007
Alliant succumbs to private equity overtures
Alliant Insurance Services Inc became the latest US insurance broker to succumb to overtures from private equity investors when it confirmed last week that it had agreed to a takeover from The Blackstone Group.
11 June 2007
Lloyd's to reissue subordinated debt
Lloyd's announced last week that it is to return to the debt markets with a benchmark issue of between £300-500mn in Tier 1 perpetual subordinated debt.
11 June 2007
Paris Re gets A- rating from S&P
Two subsidiaries of Paris Re, the former reinsurance arm of AXA Re, have been assigned an initial rating of A- by Standard & Poor's (S&P).
11 June 2007
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