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First UIC payout confirmed at 100 percent
Provisional liquidator Grant Thornton has confirmed the initial dividend payment under its proposed UIC Insurance Company Limited scheme of arrangement has been set at 100 percent.
14 May 2007
HCC founder joins forces with $8bn private equity firm
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.
14 May 2007
Flagstone weathers Kyrill in debut results
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.
14 May 2007
Generali profits on the up
Italian (re)insurance giant Generali announced net profits up 20 percent for the first quarter 2007.
14 May 2007
Talbot deal may spark fresh Lloyd’s M&A
Talbot is expected to announce within days that it has found a buyer in Bermudian (re)insurer Validus Holdings Ltd (Validus). The Insurance Insider revealed in its May issue that Validus has emerged as the front-runner to buy the Lloyd’s managing agency.
14 May 2007
Cat bonds rush in advance of official hurricane season
Despite a hiatus at the beginning of the year partly fuelled by events in Florida, the industry has returned to one of the most notable trends in recent years – securitising its business into the capital markets.
14 May 2007
KBW caution on Benfield Corporate Risks
Benfield Group's 2005 move into primary lines continues to provoke concerns among some analysts about the reinsurance broker's prospects.
14 May 2007
Terrorism insurance growing, but businesses still not prepared
In an era of increased globalisation, "understanding and preparing for political violence has arguably never been more important for business", according to Lloyd's chairman Lord Levene, at the launch of a new report on terrorism.
14 May 2007
Heath restructures following departures
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.
14 May 2007
HCC continues growth with record profits
HCC Insurance Holdings bucked the trend set by a number of its peers, as it announced last week record first quarter earnings and revenues up 28 percent.
14 May 2007
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