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  • Despite an initial rejection of its overtures, the French reinsurer SCOR has built a 32.9 percent stake in its takeover target Converium Holding AG after striking a deal with the corporate raider Martin Ebner.
  • Swiss reinsurer Converium has rejected a takeover bid from rival SCOR this weekend saying the unsolicited proposal “fundamentally fails to recognise the value of Converium's franchise and growth prospects”.
  • In a further sign of growing innovation between the (re)insurance industry and capital markets, the Chicago Mercantile Exchange (CME) is to begin trading hurricane futures and options in conjunction with reinsurance broker Carvill.
  • If the recent reinsurance legislation had been passed in a foreign country (re)insurers would be asking the State Department to intervene, according to Maurice “Hank” Greenberg, chairman and CEO of CV Starr & Co.
  • Although Europe suffered its biggest windstorm since 1999 as Kyrill blew across it in January, the continent's largest reinsurers remained miles apart in counting its cost.
  • Although Benfield's share price has shown a moderate recovery in recent days, its 13 percent slump as news broke of Florida's legislative intervention brought into sharp relief the negative earnings impact...
  • Heath Lambert, the independent UK broker that came close to tying the knot with rival Jardine Lloyd Thompson Group plc last year, looks set to unveil a 2006 turnover of around £121mn...
  • David Foreman, the former underwriting chief at Wellington Underwriting, is close to confirming the launch of a new Lloyd’s based (re)insurer supported by private equity finance, The Insurance Insider understands.
  • Fuelled by its acquisition of GE Insurance Solutions (GEIS), Swiss Re reported a 14 percent increase in business at the January renewals, the equivalent of SFr1.3bn.
  • Two former Endurance Specialty executives are looking to launch a Bermuda-based casualty insurer with up to $1bn in capital, The Insurance Insider can reveal.