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Benfield says Florida will cost £10mn
Benfield Group said Florida's decision to near double its hurricane catastrophe bond will cost the group an estimated £10mn in trading profits this year.
12 March 2007
Aon Re pays £9.5mn to settle Benfield fac dispute
Benfield Group will treat the £9.525mn which Aon Re has agreed to pay to settle the litigation springing from the defection of a key producing team as an exceptional item this year.
12 March 2007
Bermuda move ‘pays off handsomely’ for Hiscox
The decision of Lloyd's insurer Hiscox Ltd to open a Bermudian underwriting platform has "paid off handsomely", according to Robert Hiscox, the firm's chairman.
12 March 2007
Catlin in £16mn settlement with Wellington Names
Catlin Group has agreed to pay £16mn to Names who traded Wellington capacity in the Lloyd's auctions last year before the two insurers announced they were in takeover talks.
12 March 2007
Aon Re in £10mn Fac poaching settlement
Aon Re Global has agreed to pay Benfield Group £9.525mn to settle the litigation which sprang from the defection of Elliot Richardson, and his facultative team, last year.
12 March 2007
NAIC stalls on collateral requirements
US regulators are continuing to stall on proposed measures to change collateral requirements for so-called "alien reinsurers".
12 March 2007
Greenberg sells $28mn in AIG stock
Maurice "Hank" Greenberg sold another chunk of his American International Group (AIG) shares netting around $28mn last week.
12 March 2007
US plans long-term TRIA extension
The US government is set to introduce a bill to extend the Terrorism Risk Insurance Act (TRIA) in April.
12 March 2007
China Re plans IPO
China Reinsurance is planning to raise up to $2.6bn in an IPO later this year.
12 March 2007
Improved forecasts to boost Atrium result
Lloyd's insurer Atrium Underwriting plc said its full-year results would be "materially ahead of current market expectations" after it improved its syndicate forecasts.
12 March 2007
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