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KKR exits Willis
Willis has announced a second offering for the sale of 6.1 million shares currently held by Kohlberg Kravis Roberts (KKR) and Fisher Capital.
09 November 2005
Omega latest Lloyd’s insurer to form Bermudian start-up
Omega Underwriting Holdings plc is the latest Lloyd's insurer to unveil a rights issue and plans to form a Bermudian platform to access short-tail catastrophe business following the trio of hurricanes that raged this autumn.
09 November 2005
AIG restates again after $500mn discovery
American International Group (AIG) is to restate its financials for the second time this year after finding an additional £500mn of income through accounting errors.
09 November 2005
Profits down at Berkshire Hathaway
Berkshire Hathaway announced its third quarter net earnings were $586mn, or $381 a share, down 48.5 percent from the $1.14bn, or $739 a share, for the same period in 2004.
09 November 2005
Hiscox confirms launch of $500mn Bermudian (re)insurer
Lloyd's insurer Hiscox plc has announced a £170mn rights issue and the formation of a $500mn capitalised Bermudian (re)insurer to exploit the post-storms rating environment.
08 November 2005
Talanx to buy Gerling's insurance operations
Talanx is reported to have trumped the aggressive US buy-out firm Cerberus Capital Management for the prize of fellow German insurer Gerling Group.
08 November 2005
Mixed results for big three brokers
It was a mixed bag as the big three global brokers announced their third-quarter results last week.
07 November 2005
Converium to restate accounts
Swiss reinsurer Converium will delay its third quarter results because it is restating its financial accounts after an internal review.
07 November 2005
Lloyd’s insurers clear decks in advance of fund raising initiatives
Three Lloyd’s insurers all expected to announce post-Katrina fund raising initiatives updated their third quarter storm loss estimates last week, in moves widely seen as “deck-clearing” exercises.
07 November 2005
Lloyd’s appoints two headhunter firms to lead CEO search
Lloyd’s have appointed the executive headhunter firms Russell Reynolds and Spencer Stuart to advise them on their search to replace the departing Nick Prettejohn.
07 November 2005
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