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IPCRe downgrade sends diversification warning
Last week’s shock decision by Standard & Poor’s (S&P) to downgrade IPCRe from A to A- has been questioned in some quarters and sent out a strong message to peers with a focus on volatile catastrophe reinsurance business.
23 April 2007
Glencairn takes Park portfolio
Glencairn Ltd, the Lloyd’s broker taken over by US firm Hilb Rogal & Hobbs Company Ltd (HRH) last December, has expanded by taking on the majority of Park London’s insurance and reinsurance business.
23 April 2007
Integro raids Guy Carp for another Fac broker
Integro Ltd, the US insurance broker formed in response to the regulatory scrutiny into the US broking industry, has announced that Charles Waddington will join its facultative (Fac) team from Guy Carpenter & Co.
23 April 2007
RFIB marches to buy-out beat
The changing of the guard among London’s mid-tier brokers continued last week after RFIB Group Ltd confirmed it had undertaken a management buy-out financed with private equity support.
23 April 2007
Canopius considers expansion outside Lloyd’s
Fast growing insurer Canopius Ltd is looking at options to expand its platform outside Lloyd’s, Insider Week can reveal.
23 April 2007
OIL departures gather momentum
Energy industry mutual Oil Insurance Ltd continued to see its membership decline as it confirmed last week that 13 more companies are set to leave.
23 April 2007
Cat bonds further exposed by rising Florida property values
Cat modelling firm Risk Management Solutions (RMS) has said the recent increases in Florida’s property values has exposed some cat bonds to a higher risk.
23 April 2007
Snowball to roll-out Towergate’s IFA expansion
Patrick Snowball, Aviva UK’s group executive director, has resigned suddenly from the company and is set to join the insurance consolidator Towergate Partnership as deputy chairman.
23 April 2007
Acquisitions ‘less risky’ than organic growth in soft market
Acquisitions of rival (re)insurers are potentially less risky than organic growth in a softening market, according to Nick Johnson, senior insurance analyst at Numis Securities.
23 April 2007
Aspen swoops for Catlin deputy
Catlin Group underwriter Matthew Yeldham has become the latest ex-Wellington Underwriting employee to leave the group after it was confirmed he would be joining Bermudian firm Aspen Insurance Holdings Limited as its head of International Insurance.
23 April 2007
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