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Profits strong, top line weakening as Bermudians post Q1s
Early reporting Bermudians delivered strong first quarter earnings last week but weaker top line figures as signs of premium growth slowdown in a softening market began to show.
30 April 2007
OIL on negative outlook after departures
Troubled energy mutual Oil Insurance Ltd has had its A- rating placed on CreditWatch with negative implications by rating agency Standard & Poor's (S&P).
30 April 2007
AIG Life company receives Qatar license
American International Group's (AIG) life insurer, AIG Life, was granted a license to conduct its group insurance operations from the Qatar Financial Centre (QFC).
30 April 2007
QBE raises $550mn to finance US acquisitions
Australian insurer QBE Insurance Group has confirmed a privately placed $550mn offering of hybrid notes to institutional investors.
30 April 2007
AmTrust buys UK insurer
AmTrust Financial Services Inc has acquired IGI Group Ltd, a small UK specialty insurer.
30 April 2007
ICAP founder to buy RI3K
A consortium including ICAP founder Michael Spencer and hedge fund giant Eton Park Capital Management LLC is set to take a controlling interest in electronic trading platform RI3K, The Insurance Insider can reveal.
30 April 2007
ICAP founder to buy RI3K
A consortium including ICAP founder Michael Spencer and hedge fund giant Eton Park Capital Management LLC is set to take a controlling interest in electronic trading platform RI3K, Insider Week can reveal.
30 April 2007
Validus leads race to acquire Lloyd’s insurer
The Bermudian (re)insurer Validus Holdings Ltd has emerged as the front-runner to buy the up-for-sale Lloyd’s insurer Talbot Underwriting Holdings, The Insurance Insider understands.
30 April 2007
Bryce ‘flabbergasted’ by S&P downgrade
Bermudian IPCRe followed its shock Standard & Poor’s (S&P) downgrade with a strong set of first quarter results and plans for a $200mn share buyback.
30 April 2007
Novae raises £100mn in debt issue
UK quoted insurer Novae Group plc has issued £100mn of medium-term subordinated notes in a move to restructure its debt.
30 April 2007
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