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UK schemes given further boost by WFUM decision
The proposed WFUM pool scheme of arrangement, involving 16 different insurance companies, was granted leave to convene creditors’ meetings by the UK High Court today (9 June).
09 June 2006
Chaucer forms new Lloyd’s insurer with Quanta
Quanta Capital Holdings has signed heads of agreement with Chaucer Holdings and the senior underwriting team of its Syndicate 4000 to form a new Lloyd’s managing agent, Pembroke Managing Agency Limited.
09 June 2006
Alexander Forbes in talks to spin-off international arm
South African broking group Alexander Forbes announced today (7 June) that its CEO is to step down, it is in discussions with potential private equity buyers of the company, and that it is looking at options for its...
07 June 2006
AM Best downgrades and withdraws Quanta Capital Holding’s ratings
AM Best has responded today (7 June) to Quanta Capital Holdings’s run-off plans by firstly downgrading the company’s ratings before withdrawing them altogether at the firm’s request.
07 June 2006
Swiss Re launches cat bond Successor
Giant reinsurer Swiss Re announced today (7 June) that it has issued Successor, the latest in its series of cat bond programmes, as it continues to utilise the capital markets to offset risk.
07 June 2006
Equitas boosts asbestos reserves; positive on progress
Despite increasing asbestos reserves by another £128mn in the year to 31 March 2006, Lloyd’s pre-1993 run-off vehicle Equitas highlighted its progress in resolving claims with major policyholders as it released its financial results this morning (6 June).
06 June 2006
Harding takes over Marine at SBJ
Andrew Harding has been appointed chairman of the Marine Division of expanding insurance broker SBJ Limited.
05 June 2006
Benfield opens Australian office
Reinsurance broker Benfield Corporate Risk has opened its first Australian office. Based in Perth, the new office will focus on the development of specialty business in the energy, power and mining sectors.
05 June 2006
AWAC grows income
Bermudian Allied World Assurance Holdings (AWAC) increased its first quarter profits by over 50 percent it announced on 30 May.
05 June 2006
Restatements to cost Max Re $18.3mn; Q1 results avert delisting threat
Bermudian reinsurer Max Re last week filed its first quarter results, a move that should avert its delisting from the Nasdaq trading exchange.
05 June 2006
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