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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
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
London news digest - June 2006
Equitas boosts asbestos reserves; Creechurch parts company with chief executive; Monument in disarray as chief executive quits; Novae enters energy as start-up gets A- rating; Lloyd's warns insurers on climate change; et al...
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
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
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
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
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
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
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