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  • Stephen Way, the founder of HCC Insurance Holdings, has teamed up with the $8bn private equity group GTCR Golder Rauner LLC to back a new investment firm specialising in the insurance sector.
  • Synergy Insurance Services, an innovative UK insurer that has been in the pipeline for a number of years, is finally launched this week amid claims that its structure could allow small and medium-sized businesses to save up to 40 percent of their insuranc
  • Greenlight Capital Re Ltd is expected to make its debut on Nasdaq in the next fortnight as it looks to raise $175mn in an initial public offering.
  • Converium Holdings AG CEO Inga Beale will receive a lump sum payment of SFr4.2mn when she leaves the company on completion of the takeover by French reinsurer SCOR.
  • London is destined to control a shrinking share of the world's insurance markets, both in absolute terms due to emerging market growth, and in relative terms as a result of "localisation", according to Luke Savage, finance director of Lloyd's.
  • Heath Lambert, the UK broker that has to continually fend off takeover speculation, has restructured its operations following the departure of a number of executives.
  • In its first results filing as a public company, Bermuda's Flagstone Reinsurance Holdings Ltd reported first quarter net income of $35.6mn, as it bore net losses of $25.4mn from European Windstorm Kyrill and $6.9mn from satellite losses.
  • Italian (re)insurance giant Generali announced net profits up 20 percent for the first quarter 2007.
  • Investors in PXRE's Atlantic & Western Re (AWR) cat bond have recovered the principal after the bond was effectively triggered by the Bermudian reinsurer's default.
  • In the week that Talbot is set to announce a profitable sale to Bermudian (re)insurer Validus (see article 7), its predecessor company, Allegheny Underwriting drew-down a further £29.9mn from the Lloyd's Central Fund to cover its legacy losses.