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  • 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.
  • 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...
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • Bermuda-based life reinsurance specialist Scottish Re Group is continuing its resurgence after gaining a financial strength upgrade from Fitch Ratings last week.
  • Swiss Re is to sell the UK life operation it acquired as part of its takeover of GE Insurance Solutions (GEIS) in 2006.
  • 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.