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XL launches Stoneheath; re-gears Cyrus Re
XL Capital, which announced the first of the post-Katrina sidecars Cyrus Re in November last year, has launched a new Cayman Islands special purpose reinsurance vehicle, Stoneheath Re.
27 November 2006
Greenberg offloads 27 million AIG shares
Industry legend Hank Greenberg and his Starr companies have sold over 27 million shares in his former company, American International Group (AIG), since May.
27 November 2006
Sperryn to leave LMA
The Lloyd’s Market Association’s (LMA) has announced that its chief executive Simon Sperryn, will leave the association at Christmas 2006.
27 November 2006
Heritage raises £14.6mn
AIM-listed Heritage Underwriting Agency plc announced on 24 November that it has raised £14.6mn in a share placement.
27 November 2006
FSA fines General Re £1.2mn over Finite Re deals
UK regulator the Financial Services Authority (FSA) fined Berkshire Hathaway subsidiary General Reinsurance UK £1.225mn last week for arranging two improper reinsurance transactions.
27 November 2006
Novae swoops for departing Wellington team
Wellington plc, the Lloyd’s insurer that has agreed to the takeover overtures from rival Catlin Group, has been struck by resignations from its UK property team.
27 November 2006
XL launches Stoneheath; re-gears Cyrus Re
XL Capital, which announced the first of the post-Katrina sidecars Cyrus Re in November last year, has launched a new Cayman Islands special purpose reinsurance vehicle, Stoneheath Re.
27 November 2006
Guy Carp consortium to place IRB contract
Reinsurance broker Guy Carpenter is leading a consortium of brokers, including Aon Corp and Jardine Lloyd Thompson, which will place Brazil’s largest property contract in the January renewals.
27 November 2006
RMS maintains increased hurricane forecast
Catastrophe modelling agency Risk Management Services (RMS) has reiterated its medium-term five-year view on the probability of Atlantic storm losses as above average from next year, despite 2006’s placid storm season.
27 November 2006
Chaucer releases upbeat trading statement
Quoted Lloyd’s insurer Chaucer Holdings plc posted an upbeat trading statement on 23 November with improvements on 2004 and 2005 forecasts and an optimistic outlook for next year.
27 November 2006
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