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Ruxley in Generali run-off talks
Ruxley Ventures, the London based firm which specialises in acquiring legacy businesses, is in talks to buy a run-off unit from Italian giant Generali, The Insurance Insider understands.
05 April 2007
Capita seals £32mn CMGL deal
Capita, the giant UK outsourcing firm, has completed the acquisition of run-off consultants Claims Management Group Ltd (CMGL) for consideration of £32mn from UK private equity firm Sovereign Capital Partners LLP.
05 April 2007
London News Digest
Private equity firm to buy Alea for £162mn; Xchanging in £400mn+ IPO bid; QBE launches PI division; Royal settles student loans dispute with MBIA; Lloyd’s welcomes UK tax cut...
05 April 2007
MMC rewards senior staff
Steering Marsh and McLennan Companies (MMC) through the difficult post-Spitzer years has led to rich rewards for the company's president and chief executive Michael Cherkasky, who received total compensation valued at $8.65mn last year.
05 April 2007
ISPVs stalled on UK starting grid
Last year, the UK authorities unveiled the prospect of UK ISPVs as a sign they were listening to complaints about London’s relative lack of global competitiveness. So what has gone wrong?
05 April 2007
PRO confirms WFUM development
PRO Insurance Solutions Ltd, the proposed Scheme Manager of the WFUM Pools Scheme, has confirmed that the 14 WFUM pools scheme companies are applying to the UK High Court for sanction of the proposed schemes.
05 April 2007
Plumeri endorses principles approach
A principles-based rather than a rules-based approach not just to regulation but to running the entire industry should be embraced by the industry, according to Joe Plumeri, chairman and CEO of Willis.
05 April 2007
Greenberg sells $28mn AIG stock
Maurice "Hank" Greenberg sold another chunk of his American International Group (AIG) shares netting around $28mn last month. Greenberg sold 400,000 shares at an average price of $69.86 each, adding to the sales he made last year.
05 April 2007
Munich Re still haunted by US asbestos
The spectre of asbestos returned to haunt reinsurance giant Munich Re as it revealed in its full annual report a $600mn strengthening of loss reserves for related claims at its US operation.
05 April 2007
QBE bond ‘fraud’ trial set for November
QBE Limit and Markel are set for a November High Court showdown with broker Surety Guarantee Consultants Ltd (SGC) over allegations of fraud in connection with construction bonds it issued as a coverholder.
05 April 2007
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