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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
LONDON NEWS DIGEST
Latest developments in the London (re)insurance market
11 May 2007
Ironshore to make US casualty play
Ironshore Insurance Ltd, the $1bn Bermudian insurer formed by father-and-son team Bob and John Clements at the back end of last year, is on the verge of launching a US platform, The Insurance Insider can reveal.
11 May 2007
Montpelier plans Lloyd’s launch
Bermudian reinsurer Montpelier Re is close to unveiling details of a Lloyd’s platform as it looks to broaden its geographic reach, The Insurance Insider can reveal.
11 May 2007
Alea awaits buy-out support
Defunct (re)insurer Alea Group Holdings Ltd revealed last month that it had the support of 55 percent of its shareholders to support a £162mn buy-out bid from the private equity-backed FIN Acquisition Ltd (FIN).
11 May 2007
Willis rejects supplemental compensation plans
Ever since 14 October 2004 – the date New York attorney general Eliot Spitzer stunned the industry with his complaint against MMC - Willis Corp has attempted to distancing itself from the furore over contingent commissions.
11 May 2007
Munich Re buys Bell & Clements
Munich Re continued the trend for (re)insurers to buy brokers and agents to increase control over distribution with its acquisition of UK intermediary Bell & Clements Group this month.
11 May 2007
Benfield Corporate Risks concerns KBW
Benfield Group’s expansion into primary lines is continuing to provoke concerns about the reinsurance broker’s prospects.
11 May 2007
RenRe top-line falls
The impact of legislative actions in Florida earlier this year was reflected in the top line shrinking by 18 percent at RenaissanceRe Holdings Ltd as the reinsurer reported first quarter figures.
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
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