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Cathedral deal may lead to more private equity deals on Lime Street
Alchemy’s acquisition of the Lloyd’s insurer Cathedral Capital is not the largest private equity deal in Lime Street – that honour goes to the £430mn buy-out of the motor insurer Cox Insurance (now Equity) last year.
06 November 2006
Berkshire thanks ‘luck’ for $2.77bn quarter
An “outstanding year” to date in its property & casualty operations contributed to investment conglomerate Berkshire Hathaway reporting third quarter net earnings of $2.77bn on Friday (3 November)...
06 November 2006
Hiscox plans record Lloyd’s capacity
Hiscox will depend on up to £87.5mn of qualifying quota share capacity next year as its flagship Lloyd’s Syndicate 33 expands to a record size of £962.5mn, according to a business plan submitted to Lloyd’s.
06 November 2006
Marsh parts company with Malloy
Marsh Inc’s chief executive Brian Storms has parted company with another senior executive following the announcement last week that the broking giant was to make its President William (Bill) Malloy redundant.
06 November 2006
Helix appointed on D&H account
Helix UK Ltd, the claims management firm owned by broking group SBJ Ltd, announced last week that it has won a new account from Duncanson & Holt Syndicate Management Ltd.
06 November 2006
CIC policyholders to be compensated
The 1,700 policyholders who bought insurance from the unauthorised insurer CIC will receive compensation following a UK High Court decision last week.
06 November 2006
Golder leaves AXA Art for new landscape
Adam Golder, chief executive of fine art insurance specialist AXA Art UK, is to leave the company at the end of the year, Insider Week can reveal.
06 November 2006
JLT outlines strategy with major restructure
Speculation that UK broker Jardine Lloyd Thompson Group plc was considering a strategy of focussed regional growth was quashed last week (31 October) when the company announced a major restructuring that includes greater integration of its two separately.
06 November 2006
Marsh parts company with President William Malloy
Marsh Inc has parted company with William (Bill) Malloy, its president and former head of its Europe operations, after making his role redundant, The Insurance Insider can reveal.
03 November 2006
Alchemy Partners buys Lloyd’s insurer for £113mn
Alchemy Partners has agreed to buy the independent Lloyd’s insurer Cathedral Capital for £113mn, The Insurance Insider can reveal.
03 November 2006
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