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Insider Shorts - Silverstein "undermined" by City Hall
Larry Silverstein, the World Trade Center leaseholder, has complained that New York City officials are undermining his position as he campaigns for a $7bn settlement from his insurers.
01 February 2003
Tower Group takes $5.4mn hit on PXRE commutation
New York based Tower Group Inc revealed on 6 July that it will write down $5.4mn on its balance sheet after commuting its outstanding liabilities with the near-defunct Bermudian reinsurer, PXRE Group.
07 July 2006
IPCRe tallies international exposures at Q3
It may have been another benign year for US hurricanes, but IPCRe's international book means it has inevitably taken a number of hefty non-US catastrophe losses, not least from the UK summer floods.
29 October 2007
Wellington appoints banker to replace Avery
Lloyd’s insurer Wellington Underwriting plc has completed its search to replace retiring chief executive Julian Avery by continuing the trend of London market companies appointing investment bankers.
23 August 2004
S&P upgrades Groupama to A+
Ratings agency Standard & Poor’s (S&P) has upgraded French insurer Groupama’s financial strength rating to A+ with stable outlook in response to the group’s increased operating performance, strong brand and its “readiness” to launch an initial public offe
15 October 2007
Munich Re plots fundraising in light of shock
Munich Re executives met with London based analysts and fund managers earlier this month as the reinsurer sought to reassure the City in the light of its shock downgrade by rating agency Standard & Poor's. In August, Munich Re suffered the humiliatio
01 September 2003
AIG subscribes to PICC offer
Chinese insurer PICC Property & Casualty Company aims to raise HK$6.14bn ($787mn) from a rights issue which is being supported by cornerstone shareholder American International Group (AIG).
30 November 2011
Advent completes £30mn rights issue
Hurricane hit Lloyd's (re)insurer Advent confirmed on Friday (6 January) the completion of its £30mn share issue and the appointment of a new non-executive director following approval by shareholders at an extraordinary general meeting.
09 January 2006
XL Capital reassures on book value; investment portfolio falls up to $1.2bn
Fancy buying over $20 for $5? Then perhaps all you need do is instruct your broker to buy XL Capital. The embattled insurer was forced to reassure shareholders on Friday (10 October) that its third quarter book value would be $21-$22.50 after its stock tu
10 October 2008
NM Rothschild planning £500mn Lloyd’s vehicle
One of the UK’s oldest banks, NM Rothschild & Sons, is planning a new Lloyd’s investment vehicle with Sax Riley, the Society’s retiring chairman, and the Lloyd’s Members Agency Sedgwick Oakwood Capital Ltd.
01 July 2002
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