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More Lloyd’s RITC capacity
RITC Syndicate Management, the Lloyd’s start-up syndicate headed by former Markel Intl chief executive Nigel Rogers, has yet to do its first transaction but has nevertheless brought fresh capacity to the sector.
11 May 2007
Lockton International captures Rutter
Lockton Companies Inc burst onto the UK shores in November 2006, with the Stone Point Capital-backed acquisition of Alexander Forbes International Risk Services (AFIRS) and immediately claimed the title of largest privately-owned global insurance broker.
11 May 2007
Allianz counterclaims against North Koreans
European giant Allianz has launched a UK High Court counterclaim against the North Korean state insurer over a controversial EUR45mn reinsurance dispute.
11 May 2007
Berkshire Hathaway targets insurance super-deal?
Warren Buffett has signalled his intention to undertake a large acquisition, saying that Berkshire Hathaway Inc (Berkshire) has more cash than investment opportunities.
11 May 2007
Competition challenges top-line for US insurers
US insurers Chubb Corporation, The Hartford and WR Berkley reported profits up and premiums down for the first quarter of 2007, while the longevity of Travelers’ continued growth was also questioned.
11 May 2007
MAP appoints new navigators
Lloyd’s insurer Managing Agency Partners Ltd (MAP) announced last month that its founder David Shipley would be stepping down from Syndicate 2791 at the end of the year with his colleagues Richard Trubshaw and Aidan Kong becoming the named and deputy unde
11 May 2007
SCOR finally captures Converium prize
Following a difficult courtship, SCOR has finally agreed takeover terms with Converium after increasing its offer for its Swiss rival in a SFr3.4bn ($2.8bn) transaction that will create a top five global reinsurer.
11 May 2007
Munich favoured over Swiss on capital management and underwriting strategy
Despite record Q1 earnings, boosted by the sale of its iconic London offices and contributions from the GE Insurance Solutions (GEIS) acquisition that positioned it as the world’s biggest reinsurer, Swiss Re remains a close second to Munich Re in the eyes
11 May 2007
Florida legislation impact not as bad as expected
The impact of recent changes to the Florida Hurricane Cat Fund (FHCF) will be less than originally anticipated, according to Geoffrey Bromley, non-Americas chairman of reinsurance broker Guy Carpenter.
11 May 2007
Paris Re prepares for IPO
Bermudian reinsurer, Paris Re has appointed underwriters as it prepares an initial public offering (IPO) later this year which could value the firm at $2-3bn, just one year after it was bought out from AXA SA.
11 May 2007
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