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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
Positive outlook for AXIS
Rating agency Standard & Poor’s (S&P) raised the outlook Bermudian reinsurer AXIS Capital Holdings to positive from stable last week.
04 June 2007
FSA publishes regulatory fees
The Financial Services Authority (FSA) has published its final fees and Financial Ombudsman Service levies for UK regulated firms for 2007 and 2008.
04 June 2007
Omega 'extremely pleased' with 2007 trading
Bermuda-based (re)insurer Omega Insurance Holdings said it is "extremely pleased" with trading so far this year in a statement following its AGM.
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
G6 chair joins Lloyd’s
Hiscox's chief operating officer and G6 chair Sue Langley is leaving the insurer to join Lloyd's as director of Market Operations and North America.
04 June 2007
Mitrovic joins Flood at Ironshore liability venture
Ironshore Inc has confirmed the appointment of Mike Mitrovic to head up claims at its new professional liability US-based subsidiary IronPro, a move first revealed in the May issue of The Insurance Insider.
04 June 2007
Whittington defectors target US with ISG
Former Whittington duo Richard Whatton and Stephanie Mocatta have joined insurance services company Independent Services Group (ISG) to target distressed insurance entities for acquisition in Bermuda and the US.
04 June 2007
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