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  • A political risk analyst has predicted that the UK will face five more terrorist attacks from Sunni extremists within the next 18 months.
  • Failed (re)insurer GoshawK earlier this month (3 January) announced increased provisions at its Bermudian subsidiary Rosemont Re for losses from last autumn’s hurricanes and prior-year legacy issues.
  • Reinsurance giant Swiss Re announced on 28 December that it had completed a second deal securitising future profits from a portfolio of US insurance policies bought up by its Admin Re division. The so-called ALPS securitisation “benefits Swiss Re by...
  • The increasing use of securitisation transactions by European life insurers for finance and risk transfer is set to keep on growing, according to a report by rating agency Standard & Poor’s (S&P).
  • Allied World Assurance Company’s (AWAC) move towards independence has cost it a ratings downgrade amid rumours that it is set to become the last of the so-called “Class of 2001” to go public with an IPO. Rating agency AM Best said it had decided to...
  • Bermuda-based run-off company Castlewood Holdings, together with Shinsei Bank, has bought Aioi Insurance Company of Europe (Aioi Europe) for £62mn.
  • Investors can expect to see a rise in mergers and acquisitions (M&A) activity within the life sector over the next few years, according to a report from reinsurance giant Swiss Re. The report found that the need to consolidate had begun a busy phase...
  • A panel of High Court judges has thrown out an appeal by reinsurers against Justice Morison’s 21 December 2004 judgement in favour of claimant reinsureds and defendant brokers on all points in the notorious Aon 77 dispute.
  • Bermudian Arch has become the latest (re)insurer to enter into a sidecar arrangement following the establishment of Flatiron Re. Flatiron Re follows XL sidecar Cyrus Re and Montpelier’s Blue Ocean, and carries the distinction of becoming the first...
  • Swiss reinsurer Converium finally ended the search for a new CEO on 14 December as it announced the appointment of Inga Beale to the post. Beale will join the company early this year from GE Insurance Solutions (GEIS), where she currently heads up...