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Ascot boosts capacity to £625mn
Lloyd’s insurer Ascot Underwriting has confirmed plans to increase capacity on its Syndicate 1414 by 13.5 percent to £625mn for the 2007 underwriting year.
11 December 2006
BMA’s fees set to quadruple for largest reinsurers
Bermuda’s largest reinsurance companies will see their registration and annual licence fees nearly quadruple under new legislation on the island.
11 December 2006
Correction – “Amlin reaps from reinsurance strategy”
In issue 253 of Insider Week, we erroneously attributed a quote from Morgan Stanley analyst David Collins, to Nick Johnson of Numis.
11 December 2006
Hannover Re goes takaful
German giant Hannover Re has become the latest (re)insurer to offer takaful lines establishing Hannover ReTakaful Bahrain.
11 December 2006
Endurance upgraded to A by S&P
In a year that has seen ratings upgrades outstrip downgrades for the first time since 2000, Standard & Poor’s (S&P) has upgraded Bermudian (re)insurer Endurance Specialty Holdings Ltd from A- to A in response to growth...
11 December 2006
Aon Professional Risk restructures; Milton retires
Paul Milton, the chairman of Aon Professional Risks (APR), is set to retire from the organisation as Aon restructures the division’s reporting structures.
11 December 2006
Aspen in pioneering recoverables deal
Bermudian (re)insurer Aspen Insurance Holdings Ltd has taken the innovative step of wrapping a credit derivative structure around a portfolio of its reinsurance recoverables, in a $420mn transaction with investment bank Deutsche Bank.
11 December 2006
Barclays’ former insurance head joins Benfield Advisory
Des Potter, the former head of insurance at Barclays Capital, joined Benfield Advisory Ltd on 4 December.
11 December 2006
R&Q buys Ancon Insurance
Randall & Quilter Group Investment Holdings Ltd (R&Q), the UK based acquirer of run-off businesses, confirmed last week that it had acquired its fifth run-off (re)insurer this year with the purchase of Ancon Insurance.
11 December 2006
North Korea accused of reinsurance fraud
The North Korean government is attempting to collect on fraudulent reinsurance claims from international (re)insurers, according to reports in the US media.
11 December 2006
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