September 2012/4

The success of capital markets players in making themselves a fixture in the reinsurance sector will aid the companies that can partner up with them and hurt those that don't, JMP Securities analyst Matthew Carletti told investors last week following a visit to the Monte Carlo Rendez-Vous.

Guy Carpenter is opening a new office in Dubai that will be headed by Bilal El Hoss, The Insurance Insider can reveal.

It is understood that Dennis Mahoney, chairman of the specialty managing general agency and analytics firm Sciemus, has parted ways with the London-based company.

A number of senior staff have left Aon Benfield's Greek operations including CEO Gerald Turner, who gave his name to the business, The Insurance Insider can reveal.

Canopius has indicated it intends to de-empt the capacity of what was Omega Syndicate 958 from £280mn to £220mn.

UK broker aggregator Giles' start-up EC3 Brokers will not be merged with its existing London wholesaler FSJ, The Insurance Insider understands.

After completing the recent £164mn Omega acquisition, Canopius is planning a significant expansion of its property direct and facultative (D&F) book under global property chief executive Mike Duffy, sister title Inside FAC revealed last week.

UK motor insurer Admiral is facing increasing earnings pressure from softer UK insurance pricing, regulatory change and its decision to reduce volume growth, according to Espirito Santo analyst Joy Ferneyhough.

Direct Line, the UK personal lines insurer that is planning to list on the London Stock Exchange this autumn, should take heed of the ill-fated Talanx IPO and price realistically.

Although a range of likely names were bandied around in the hours after Validus made public its agreed bid for Flagstone, there is no longer an expectation that one of them will seek to upset the deal, according to a range of market sources.

Tower Hill looks set to become the latest Florida homeowners' insurer to take on a raft of policies from Citizens Property Insurance Corporation, as the state-backed insurer continues its drive to de-risk.

Swiss Re expects to see capital relief transactions represent up to a third of its European, Middle East and African (EMEA) reinsurance portfolio within three to five years.