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Alea replaces ceo with run-off expert
Mark Cloutier, the head of run-off at the defunct reinsurer Alea Group Holdings, will replace Marc Ricciardelli as the company chief executive from 1 September.
03 July 2006
Ironshore builds on AIG foundations
Ironshore has continued to tap American International Group (AIG) for senior executives while building what is increasingly looking like Lexington MKII.
11 May 2009
Insider Shorts
PICC raises $693mn in IPO PICC Property and Casualty Co Ltd, China’s largest property insurer, successfully raised $693mn in a Hong Kong IPO last week.
03 November 2003
Ratings agencies mixed on Montpelier capital raise
Ratings agencies Moody’s and Standard & Poor’s (S&P) have delivered contrasting responses to Bermudian reinsurer Montpelier Re’s successful $600mn fundraising exercise to fill the hole left by Hurricane Katrina and subsequent flood losses.
26 September 2005
R&Q to pay dividend via share issue
London-headquartered insurance services firm Randall & Quilter (R&Q) is planning to issue a new share class to investors rather than pay a final dividend for 2011.
26 April 2012
Novae bond exchange offer could add £9mn to bottom line
Lloyd's (re)insurer Novae has announced a bond exchange offer to holders of its subordinated £100mn callable fixed to floating rate notes, which could add around £9mn to its bottom line
12 March 2012
Halliburton and Equitas reach $575mn
Lloyd’s run-off reinsurer sees an end to its largest direct liability US engineering firm Halliburton has announced a $575mn (£317mn) settlement of its asbestos exposures with Equitas, the reinsurer established by Lloyd's in 1996 as a run-off vehicle f
01 February 2004
White Mountains forms latest Bermudian sidecar Helicon
White Mountains Insurance Group has become the fourth (re)insurer to announce the formation of a Bermudian sidecar vehicle following last year’s US storm losses. Helicon will sit alongside the Bermudian reinsurer Olympus Re in writing up to...
17 February 2006
EU Parliament approves Solvency II
The European Parliament (22 April) approved the Solvency II framework directive without the contentious group support provision – a development which European insurance and reinsurance federation the CEA described as a "missed opportunity".
22 April 2009
Embattled MBIA reappoints Brown
Joseph Brown has been re-appointed as chairman and CEO at beleagured monoline bond insurer MBIA Corp.
25 February 2008
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