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Europe needs a PCS: Swiss Re
Swiss Re, the Zurich headquartered reinsurer which is pioneering the industry’s collaboration with the capital markets, has called on the creation of a new index for European natural catastrophes.
22 January 2007
Goldman Sachs acquires USI
The acquisitive broker USI Holdings Corp has itself succumbed to a take-out offer after agreeing terms with the private equity arm of Goldman Sachs & Co last week.
22 January 2007
Hannover Re boosts 'K5' securitisation
Hannover Re has re-visited the capital markets in order to boost its Kaith Re "K5" securitisation to $520mn and expand the reinsurer’s underwriting capacity.
17 January 2007
Omega launches $30mn offshore energy account
Bermudian-domiciled (re)insurer is to launch a $30mn offshore energy account for its Lloyd’s Syndicate 958 this year, it announced in a trading statement yesterday (16 January).
17 January 2007
Validus Re and Greenlight Re confirm IPO plans
Validus Holdings Ltd and Greenlight Capital Re Ltd have become the third and fourth reinsurers formed after Hurricane Katrina to confirm plans for initial public offerings (IPO).
17 January 2007
Vaughan succeeds Singer at Tawa
Run-off company Tawa Management Ltd, part of the Tawa Group, has announced that David Vaughan succeeded Philip Singer as its CEO on 1 January.
15 January 2007
Lloyd’s makes ‘ridiculous’ offer for damaged Picasso
Casino mogul Steve Wynn has described an offer from Lloyd's insurers to settle his $54mn claim for a damaged Picasso masterpiece as "ridiculous" and taken underwriters to court.
15 January 2007
Numis predicts strong 2007 for Lancashire
Class of 2005 alumnus Lancashire Holdings Ltd has received a strong endorsement from analysts at stockbroker Numis Securities, who initiated coverage on the (re)insurer with a "BUY" recommendation.
15 January 2007
State Farm hit by $2.5mn in damages from Katrina case
US insurer State Farm Fire & Casualty Co has been ordered to pay $2.5mn in punitive damages to a couple in Mississippi by a jury.
15 January 2007
Munich Re on track to earn EUR3.2-3.4bn
German giant Munich Re is on track for 2006 after-tax profits of EUR3.2bn to EUR3.4bn, according to its chairman Nikolaus von Bomhard in an investor conference last week (9 January).
15 January 2007
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