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$565mn Asian reinsurer launched
The burgeoning Asia Pacific market has attracted a $565mn capitalised Singapore-based reinsurance start-up, Asia Capital Re.
12 December 2006
Lloyd’s Central Fund trial set for January 2008
A trial date of January 2008 has been set to hear Lloyd’s case against Benfield and Aon, the two brokers who placed the £500mn Central Fund insurance contract that failed to engage following an arbitration decision last year.
12 December 2006
Kiln buyback fails to materialise
Kiln is understood to have ruled out an offer to buy back syndicate capacity from Names but has declined to comment on whether the decision is connected to the generous offer by Catlin to Names on takeover target Wellington’s Syndicate 2020, which effecti
12 December 2006
Europe to report on brokers’ remuneration in January
The European Commission will publish its eagerly awaited interim report into brokers' remuneration practices in January 2007.
12 December 2006
G6 man joins Lloyd's
Lloyd’s Corporation CEO Richard Ward has re-iterated his commitment to business process reform in the three-hundred-year-old Society by both word and deed recently.
12 December 2006
Trio of AIM reinsurance start-ups miss target
Perhaps demonstrating the capital market's restraint over supporting new reinsurance ventures, a trio of start-ups in the sector that were mooted to list on the London Stock Exchange's Alternative Investment Market (AIM) have been withdrawn.
12 December 2006
Thunderbird yet to take flight
Thunderbird Re, the pioneering transaction set up by Lloyd's to ease managing agents' access to the capital markets, has yet to take flight with no deals on the table in advance of the 1 January renewal date.
12 December 2006
Shipley plans sidecar syndicate
Managing Agency Partners Ltd (MAP), the Lloyd’s insurer headed by David Shipley, is raising funds to launch a new sidecar syndicate, The Insurance Insider can reveal.
12 December 2006
Ex-PXRE exec launches ILW start-up
Guy Hengesbaugh, who quit as COO of beleaguered Bermudian PXRE in April, is close to making an early return to the market with a US property cat focussed start-up on the island, The Insurance Insider can reveal.
12 December 2006
International News Digest
Barclays Bank reinstated as Enron defendant; Aon gains $800mn from spin-offs; Willis loses senior figure as Colraine steps down; Scottish Re boosted by investment; AWAC adds Lloyd’s presence...
12 December 2006
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