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  • White Mountains announced Friday that it has filed a shelf registration with the SEC in New York allowing it to raise up to $2bn by issuing debt or shares.
  • Axis Capital Holdings, the specialty (re)insurer formed in response to the post 9/11 capacity crunch, will float this week on the New York Stock Exchange valuing the firm at around $3.3bn.
  • Only those that have ability to price and select risk will prosper, says ratings agency Ratings agency Fitch believes that, despite recent sterling results, post-9/11 Bermudian start-ups need to rapidly adapt “to develop the strength to compete with es
  • The problems at the troubled California State Compensation Insurance Fund (SCIF) grew earlier this month with the revelation that its auditors want the Fund’s reserves boosted by $800mn. Already embroiled in an increasingly acrimonious dispute with the St
  • New AIRMIC chairman Nick Chown will put “setting new standards” at the top of the agenda during his year in office. Chown takes the reins at the Association of Insurance and Risk Managers from David Ireland, who handed over at the end of the association’s
  • Last week saw a rash of Lloyd’s syndicates announce plans to expand their 2004 capacity to capitalise on the current rating environment. Among the most notable proposals are Cathedral’s plans to increase capacity on its Syndicate 2010 by 25 percent to £20
  • European insurers are more concerned about natural catastrophes than the two events that have dogged the industry in recent years – terrorism and historic under-reserving.
  • Benfield trading stable Shares in newly floated Benfield are trading at 263p after the reinsurance broker saw unconditional trading in its stock get underway last Wednesday.
  • ACE Ltd’s chief executive Brian Duperreault has sent a strong signal over his preferred successor with the appointment of Hank Greenberg’s son Evan to the post of president and chief operating officer.
  • The rating agency S&P last week downgraded International Insurance Company of Hannover Ltd to A+ from AA- on concerns that it is no longer a core subsidiary of Hannover Re.