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  • Fresh from Alba sale, Whittington plans new Lloyd’s syndicate The trio of senior Aspen Insurance Holdings Ltd executives who have resigned from the reinsurer in the past few months are planning a start-up reinsurer that is likely to have a Lloyd’s plat
  • US and EU Legal Developments
  • In addition to Thunderbird Re, Lloyd’s syndicates may have a new form of exclusive contingent capital available to them for next year in the form of a Bermuda domiciled special reinsurance vehicle, Syncro Ltd.
  • Aon Re Global appears to have pulled off a coup with the hiring of Elliot Richardson, currently head of facultative reinsurance at rival Benfield Group, to run its global Fac operation.
  • Despite the growing popularity of sidecars, executives in the London market are not convinced about their merits, according to findings by PricewaterhouseCoopers (PwC) for its 2006 London Insurance Market survey.
  • Quoted Lloyd’s insurers Hardy Underwriting Group plc and Advent Capital Holdings plc are taking the final steps towards achieving the buy-out of remaining Names’ capital.
  • But dollar fluctuations continue to deliver mixed results to bottom line figures
  • With aviation renewals in full swing recent entrants to the market have pushed available capacity up to unprecedented levels, according to Steve Doyle, the manager of Aon’s Aviation and Aerospace Global Practice Group.
  • Up to $500mn of retrocessional capacity will be withdrawn from the market following the completion of Swiss Re’s acquisition of GE Insurance Solutions earlier this year.
  • Paris-based investment bank Calyon has completed a $63mn securitisation, Pinnacle, once again demonstrating the industry’s growing enthusiasm to sell-on risk to the capital markets.