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Jardine elected as LMA chairman
Catlin Underwriting Agencies CEO, Paul Jardine has been elected as the new chairman of the Lloyd’s Market Association (LMA) to replace ACE Europe’s CEO and chairman Andrew Kendrick.
11 June 2007
Alliant succumbs to private equity overtures
Alliant Insurance Services Inc became the latest US insurance broker to succumb to overtures from private equity investors when it confirmed last week that it had agreed to a takeover from The Blackstone Group.
11 June 2007
Lloyd's to reissue subordinated debt
Lloyd's announced last week that it is to return to the debt markets with a benchmark issue of between £300-500mn in Tier 1 perpetual subordinated debt.
11 June 2007
Distribution hunger continues unsated
Mergers and acquisitions (M&A) activity has recently become the resurgent trend in the insurance industry, with most action evident in the UK regional broking sector.
11 June 2007
Benfield’s primary push troubles but Florida brings
Despite a recognition that Florida’s impact will be far less brutal than first feared for reinsurance brokers’ 2007 earnings, analysts Keefe Bruyette & Woods Ltd (KBW) retain a bearish stance...
11 June 2007
Spiller mulls London move
David Spiller, the chief executive of MMC's reinsurance arm Guy Carpenter & Co, is close to relocating back to London, The Insurance Insider understands.
11 June 2007
SCOR facing WTC blow
Resurgent French reinsurer SCOR is facing the threat of a sizable hit from the recent $2bn settlement between (re)insurers and the World Trade Center (WTC) developer Larry Silverstein.
11 June 2007
Hurricane season to challenge US insurers
The North Atlantic hurricane season, which officially began on 1 June, will present US insurers with a number of legal and meteorological challenges, according to a report by Fitch Ratings.
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
Reinsurance contracts at heart of Independent 'fraud'
A series of reinsurance contracts were at the heart of efforts by Independent Insurance senior management to misrepresent the company's financial health, a court has been told.
11 June 2007
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