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AIG shares drop on profits fall
Shares in American International Group (AIG) fell last month as investors sold stakes following a 16 percent drop in first quarter net income to $3.2bn.
12 June 2006
Clapham back in the market at Sciemus
Former Brit space underwriter Simon Clapham has been signed up by Sciemus Limited as director of insurance, to work with the LibSat satellite consortium backed by Liberty Syndicate Management and a number of other Lloyd’s insurers.
12 June 2006
Allianz restructures; exits marine reinsurance
Insurance giant Allianz unveiled the restructuring of its large corporate risks units late last month while also confirming it was exiting marine reinsurance business after last year’s destructive storm losses.
12 June 2006
Argenta 2121 refocuses as Hyland departs
Lloyd's insurer Argenta Syndicate Management Ltd has parted company with its lead underwriter John Hyland after six years at the helm of its reinsurance focussed Syndicate 2121.
12 June 2006
Lloyd's bolsters China team as deadline looms
Lloyd's has added Steve McCann, its head of open years, to a special working party to manage its application for a permanent Chinese licence as the deadline for regulatory approval fast approaches.
12 June 2006
Augsburg Re set to fly in $1bn IPO
Europe is set to welcome its first publicly quoted start-up (re)insurance company for almost a decade when Augsburg Re is floated on London's Alternative Investment Market (AIM) within the next month.
12 June 2006
Benfield launches $315mn RenRe sidecar; works on innovative 'Cuthbert' transaction
Benfield Group's chief executive Grahame Chilton has always made it clear that he believes one of the prime duties of the reinsurance broker is to ensure there are markets available for its clients; and, if they are not, they should be created.
12 June 2006
International news digest - June 2006
RMS learns Katrina lessons with new model; Buffett points to son as non-executive chairman; WTC insurers in fees victory; Imagine appoints ex-Platinum executive as CEO; Sompo Japan suspended by regulator; et al...
12 June 2006
Sidecar fundraising tops $2.5bn with Harbor Point deal
Post-Katrina Bermuda-based sidecars will soon have raised more than $2.5bn in capital with the emergence of Bay Point Re, a vehicle being launched alongside the "Class of 2005" reinsurer Harbor Point.
12 June 2006
Integro continues Marsh plunder
Fast-growing Integro last week announced a series of further appointments of former Marsh employees to its stable, bolstering its healthcare practice in Boston and Chicago, and establishing a south eastern marine practice.
12 June 2006
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