September 2006/2

Hiscox plc revealed on 1 September that it is close to setting up a Bermudian sidecar operation to reinsure its Lloyd’s Syndicate 33.

If Converium can sell-off its discontinued US arm, Converium North America, then it may spark an upgrade by Standard & Poor’s back to the longed-for A- territory.

The growing interest in acquiring non-life insurance businesses in run-off was demonstrated by two major sales last month coupled with the emergence of a new corporate investor looking to profit from parent companies keen to offload unwanted subsidiaries.

Highfields continues SCOR sidecar dispute; Spitzer drops key Greenberg charges; Fairfax restates; ACE acquires minority stake in Russian Re; AM Best removes Hannover Re from review; Greenlight Re receives Best rating; et al

With the limitations of traditional reinsurance pushing cedants to look for other options they must get comfortable with their understanding of the basis risk associated with the alternatives, according to Rolf Tolle...

Marsh & McLennan and Willis Corp revealed last month that US regulators have eased restrictions on them charging contingent commissions, or Placement Service Agreements, when the broker is acting as agent of the (re)insurance seller, rather than as a repr

Levene makes tax call for London’s competitiveness; Beazley boosts cat capability with Berkshire Hathaway tie-up; Gibson returns to Highway; LMA launches wordings repository; Fitch affirms Lloyd’s A rating; et al

The hard-pressed retrocessional sector – which was decimated by 2005’s storm losses – is now dependent upon securitised capacity for 30-40 percent of its market, a figure likely to reach 50 percent by the end of next year.