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AXA in Winterthur talks, according to reports
French insurer AXA is reportedly in exclusive talks to buy Winterthur, the insurance unit of financial services giant Credit Suisse Group in a deal that could be worth up to SFr10bn, or $8bn.
12 June 2006
UK schemes further boosted 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 on 9 June.
12 June 2006
London market welcomes contract documentation initiative
Key parties in the London market, including the London Market Association (LMA), and the G6 have welcomed Lloyd's CEO Richard Ward's contract documentation initiative, which was announced on 22 May.
12 June 2006
Morgan Stanley: Lloyd's benefits from lower capital requirements
Although the London market was recently overtaken by Bermuda as the largest brokered reinsurance market in the world, analysts from Morgan Stanley believe the market remains attractive as an investment proposition, with lower capital requirements...
12 June 2006
R&SA continues de-risking US
UK general insurer Royal & Sun Alliance (R&SA) announced first quarter pre-tax profits of £122mn, unchanged from the corresponding period of 2005.
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
Limit 386 underwriters share multi-million bonuses
Underwriters on Limit's Syndicate 386 have become some of QBE's highest paid employees following their multi-million pound bonus scheme.
12 June 2006
Hannover Re halves traditional retro cover
German giant increases use of securitisations as retro costs rise German reinsurer Hannover Re revealed it has halved its coverage from the traditional retro market in its programme renewal as it released strong first quarter operating results...
12 June 2006
XL Capital appoints veteran Haag to board
Bermudian giant XL Capital announced the appointment of industry veteran Herbert Haag to its board of directors on Friday (9 June).
12 June 2006
Newson to write PA for Marketform
As first revealed in May's The Insurance Insider Personal Accident (PA) underwriter Paul Newson has joined Lloyd's managing agency Marketform.
12 June 2006
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