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Converium rejects SCOR’s hostile approach
Converium has reiterated its rejection of advances from SCOR after the French reinsurer stepped up its takeover approach by pre-announcing a public tender offer for the remaining shares in its Swiss rival which it says it will make within six weeks.
26 February 2007
Hannover Re lays off $1bn in landmark recoverables deal
Hannover Re today (26 February) confirmed a deal that securitises reinsurance recoverables worth EUR1bn – equivalent to around a quarter of its total balance.
26 February 2007
World Bank looks for Caribbean cat fund backing
The World Bank is bringing together donor countries today to raise between $30mn and $50mn to complete funding for a Caribbean Catastrophe Risk Insurance Facility (CCRIF).
26 February 2007
SCOR goes formal with Converium bid
SCOR has stepped up its takeover approach for rival Converium by formally pre-announcing a public tender offer for the remaining shares in the company.
26 February 2007
Ex-Aspen execs to launch new Lloyd’s insurer
Lloyd's looks set to approve a new syndicate later this week staffed by senior underwriters who left the Bermudian (re)insurer Aspen Insurance Holdings Ltd last year.
26 February 2007
Upbeat QBE says acquisitions will fuel growth
QBE Insurance Group pointed to its recent foray of international acquisitions as deliverers of future growth, while joining the ranks of underwriters unveiling record 2006 results.
23 February 2007
R&SA gets approval for US spin-off
The Delaware insurance commissioner has given Royal & Sun Alliance (R&SA) the green light to spin-off its run-off US subsidiary, subject to conditions.
21 February 2007
Way completes departure as HCC profits leap
Stephen Way has formally completed his departure from HCC Insurance Holdings, the company he founded in 1974, at the same time as the firm announced a 79 percent leap in profits last year.
21 February 2007
RMS launches first influenza pandemic risk model
Risk Management Solutions (RMS) has released the “RMS Infectious Disease Model”, the first commercially available probabilistic model for assessing the risk of influenza pandemics across multiple countries.
20 February 2007
Aspen appoints head of Aviation and Specialty
Bermudian reinsurer Aspen Insurance Holdings has strengthened it aviation and specialty reinsurance with the creation of the post of head of division.
19 February 2007
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