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Odyssey Re delays quarterly filing
Fairfax Financial Holdings' controlled reinsurer Odyssey Re said last week that it would delay filing its quarterly financial report while it continues to review its accounting treatment of various investments.
14 August 2006
Hannover on target for 2006
German reinsurer Hannover Re says it is on target to reach its annual return on equity target of 15 percent, despite producing a relatively modest increase in group net income of 4.2 percent for the first half of the year.
14 August 2006
PXRE heads for run-off after net income plummets
Beleaguered Bermudian reinsurer PXRE Group admitted it was heading towards run-off after announcing on 8 August that its net income had slipped to $2.1mn for the second quarter.
14 August 2006
Willis forms energy unit as sector turmoil continues
At a time of perhaps unprecedented capacity shortages for Gulf of Mexico energy risks, Willis Group has formed a global energy business designed to deliver a “deep understanding of its clients’ technical and operational needs”.
14 August 2006
Ascot looks at expansion outside of Lloyd's
Fast expanding Lloyd's (re)insurer Ascot Underwriting is considering setting up an overseas operation to ease the penetration of its products into new markets.
14 August 2006
New £100mn Lloyd’s vehicle misses IPO deadline
ICP Ltd, a proposed new investment vehicle specialising in the Lloyd’s sector, has effectively withdrawn its plan to IPO on London Stock Exchange’s Alternative Investment Market (AIM) after failing to raise sufficient funds.
14 August 2006
Wade remains hopeful on Tiger Re
Michael Wade continues to look at options for the proposed reinsurance venture, Tiger Re that, if successful, could see the veteran Lloyd’s figure return once again to the London market.
14 August 2006
PXRE heads for run-off after net income plummets
Beleaguered Bermudian reinsurer PXRE Group admitted it was heading towards run-off after announcing on 8 August that its net income had slipped to a mere $2.1mn for the second quarter.
11 August 2006
Randall Group launches recoverables initiative
The relentless quest by (re)insurers to manage down their reinsurance exposures has inspired a new approach to crystallising the industry's recoverables.
11 August 2006
XL centres European reinsurance platform in Dublin
Bermudian giant XL Capital announced the latest step in a series of organisational changes on 1 August with plans to develop an integrated European platform for its reinsurance operations.
11 August 2006
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