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Aon named partner on $5bn Panama Canal makeover
Aon Corp announced on 24 October that it has been named as a partner on the $5bn “extreme makeover” of the Panama Canal.
30 October 2006
BP Marsh increases broker investments
BP Marsh & Partners plc, the London-based investor in specialist insurance and other financial services related companies, has increased its brokerage investment with the proceeds of its recent AIM listing.
30 October 2006
Private equity interest in broking sector continues with USI takeover talks
US broker USI Holdings saw its shares leap 8 percent last week after the independent firm admitted it was mulling a private equity buyout offer.
30 October 2006
‘Class of 2005’ begin IPOs
Flagstone Reinsurance Holdings became the first “Class of 2005” reinsurer to confirm plans for an IPO after filing with the US Securities and Exchange Commission (SEC) in a bid to raise $175mn in an initial public offering (IPO) on 24 October.
30 October 2006
Flowers resigns CV Starr directorship
Hedge fund king Chris Flowers resigned from his role as a non-executive director at Maurice “Hank” Greenberg US managing agency CV Starr & Co last month, Insider Week can reveal.
30 October 2006
Allianz’s Laing bid accepted
Allianz Group’s Allianz Infrastructure Holdings subsidiary has had a £957.5mn cash offer for UK infrastructure group John Laing accepted, it announced on 27 October.
30 October 2006
Ward prepared to mandate action on electronic claims
Lloyd’s CEO Richard Ward has told the market he wants to see all claims transacted electronically by the end of next year.
30 October 2006
UK P&I Club announces general increase
The UK P&I Club Board has agreed a general increase in premium rating of 7.5 percent for the financial year starting 20 February 2007.
30 October 2006
Chaucer proceeds with Pembroke
Chaucer Holdings plc – the Lloyd’s insurer which also specialises in managing third-party underwriting operations – has agreed with Quanta Capital Holdings Ltd the formation of a new managing agency to manage Syndicate 4000.
30 October 2006
Transatlantic boasts record quarter
Transatlantic Holdings, the parent of Transatlantic Re, reported record third quarter net income of $106.9mn on 26 October.
30 October 2006
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