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Fac attack: high-value hires lead to legal battles
Gen Re's action is the latest in a series of legal scraps over fac reinsurance teams reflecting a recent increased interest in the area from brokers and underwriters looking for new growth opportunities in a softening market.
11 June 2007
Towergate model draws suitors
Towergate has very effectively managed its tight-knit relationship with a small panel of insurers, including Royal & Sun Alliance, AXA and Norwich Union, and its control over a vast amount of SME business...
11 June 2007
Munich Re heads $110mn Caribbean programme
Munich Re led the innovative $110mn reinsurance programme for the World Bank-sponsored Caribbean Catastrophe Risk Insurance Facility (CCRIF), which went on risk for 16 countries in the region on 1 June.
11 June 2007
Validus increases IPO to fund $380mn Talbot deal
Bermudian (re)insurer Validus Holdings Ltd has increased the size of its pending initial public offering (IPO) to $350mn following its $382.2mn acquisition of Lloyd’s based Talbot Underwriting Holdings.
11 June 2007
RK Carvill to trade futures for reinsurance
Reinsurance broker RK Carvill is close to unveiling a $120mn Bermudian Class 3 reinsurer to issue indemnity-based policies linked to hurricane options and futures traded on the Chicago Mercantile Exchange (CME), The Insurance Insider can reveal.
11 June 2007
Validus pays $382.2mn for Lloyd’s insurer
Bermudian (re)insurer Validus Holdings Ltd has increased the size of its pending initial public offering (IPO) to $350mn following its $382.2mn acquisition of Lloyd’s based Talbot Underwriting Holdings.
07 June 2007
Lloyd’s to issue up to £500mn in subordinated debt
Lloyd’s announced today (6 June) that it is to return to the debt markets with a benchmark issue of between £300-500mn in Tier 1 perpetual subordinated debt.
06 June 2007
Scottish Re bounces back with ratings upgrade
Bermuda-based life reinsurance specialist Scottish Re Group is continuing its resurgence after gaining a financial strength upgrade from Fitch Ratings last week.
04 June 2007
Swiss Re to sell UK life operation
Swiss Re is to sell the UK life operation it acquired as part of its takeover of GE Insurance Solutions (GEIS) in 2006.
04 June 2007
Ex-Wellington underwriters to head Mitsui aviation
Mitsui Sumitomo is set to launch the latest aviation start-up in Lloyd's with capacity of up to $200mn and a team of former Wellington Underwriting staff.
04 June 2007
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