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Castlewood to buy run-off finite reinsurer
Castlewood Holdings Ltd, the Bermuda headquartered run-off acquisition and consultancy firm, has bought Inter-Ocean Holdings Ltd for $57mn.
03 January 2007
CarbonRe launches Carbon Compliance Guarantee
Carbon Re, the Swiss reinsurer of greenhouse gas emissions-related projects, has launched Carbon Compliance Guarantee Insurance Syndicate (CCGI) to indemnify companies’ Certified Emission Reductions.
02 January 2007
Aon completes Russian acquisition
Aon Holdings BV announced that it has successfully completed the acquisition of the remaining 51 percent of the shares of Moscow-based Aon Rus LLC today (2 January).
02 January 2007
HCC delivers strong third quarter and restates earnings following options probe
HCC Insurance Holdings reported a record third quarter in its delayed earnings report last week and concluded its review of the company’s option granting practices that led to the shock departure of the insurer’s founding chief executive Stephen Way last
02 January 2007
Chubb settles for $15mn and ends contingent commission payments
US insurer Chubb Corp became the latest company to settle with US regulators, on 28 December, and pledged to end the paying of contingent commissions to brokers at the end of 2006.
02 January 2007
SCOR boosts retro cover with EUR120mn cat bond
In a record year for securitisation in the sector, French reinsurer SCOR became the latest (re)insurer to issue a catastrophe bond, with its EUR120mn Atlas III transaction to cover against European windstorm and Japanese earthquake losses in late December
02 January 2007
Tyser & Co overhauls management; prepares for ownership restructure
The independent London market broker Tyser & Co has reshuffled its management team and is in the throes of restructuring its shareholdings as a number of senior executives prepare to retire.
02 January 2007
Ironshore recruits Swiss Re exec as CFO
Mitchell Blaser, the former chief financial officer of Swiss Re’s Americas division, has formed a triumvirate of senior industry executives behind the $1bn start-up insurer, Ironshore Ltd.
02 January 2007
Admiral extends Great Lakes underwriting deal
UK motor insurer Admiral has extended its long-term reinsurance agreement with Munich Re subsidiary Great Lakes Reinsurance.
02 January 2007
Swiss Re: 2006 cats cost industry just $15bn
After last year’s record catastrophe insured losses of more than $100bn, the benign conditions of 2005 look like costing the (re)insurance industry just $15bn in losses from natural and man-made catastrophes, according to preliminary figures from Swiss Re
02 January 2007
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