Canopius
Post magazine - 29 March 2012
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Omega shareholders to reject Catalina offer
Omega shareholders could shun run-off business buyer Catalina Holdings' acquisition offer.
European sovereign debt hits insurer profits
2011 was the worst year on record for natural catastrophes, yet it was cracks in the Dow Jones, faults in the FTSE and tremors on the Hange Seng that bothered many insurers more.
Far East 'cold spots' and nat-cats lead Canopius to report first loss
A string of natural catastrophe losses in 2011 drove Canopius Group to the first loss in the company's eight-year history.
Cat price rises inadequate, says Canopius
Canopius executive chairman Michael Watson has said that tenfold increases in premiums in Thailand have been exceptions, and complained that insurers have not done enough to raise rates across the board.
Canopius tumbles to first ever loss
Lloyd's insurer Canopius has announced its first ever loss – of £64m before tax (2010: profit of £40m) with catastrophes adding 24 points to its combined ratio bringing it to 111%.
Lloyd's quartet back Asian terrorism insurance consortium
Xin Consortium, a new insurance vehicle specialising in a Asian terrorism insurance, has been launched in Singapore.
Omega more than doubles losses
Struggling takeover target Omega's 2011 combined ratio hit 134%, and 2010 pre-tax losses more than doubled to $94.7m (2010: $42.9m).
Market moves: XL rings the changes
XL led the way in the recruitment space this week, as insurers made a number of key appointments. While XL added four new staff members to its ranks, Liberty Mutual, Canopius, CNA Europe and Axa also had a busy seven days. In comparison, the broking…
Barbican makes fresh Omega bid
Barbican sent a letter to rival Omega this week outlining a “merger of equals”.
Omega goes quiet on sale talks
Lloyd’s insurer Omega is refusing to comment on speculation that sale plans are on the backburner.
Colosso exits Gallaghers amid growth-driven exec restructure
Arthur J Gallagher International has confirmed that Adrian Colosso, chief executive of UK Retail and former CEO of Heath Lambert prior to its acquisition, will not return to the business following his sabbatical, as it unveiled a new-look executive team…
Gallaghers confirms Canopius underwriting move
The CEO of AJ Gallagher International has confirmed a team from Canopius’ UK underwriting division is set to join the broker, hailing it a “massive step” for OIM Underwriting.
Canopius underwriting team joins Gallagher
Former employees of Canopius’ UK underwriting household and personal property team are thought to have joined Arthur J Gallagher, Post has learnt.
Canopius boss and underwriting team to quit
Canopius UK household underwriting head Chris McGinn and a “certain members” of his team are to quit the firm.
Haverford pulls out of Omega buying talks
Haverford has withdrawn its bid for a share of Omega Insurance Holdings less than a month after making a new share offering.
Canopius names Group CEO
Canopius has appointed Inga Beale as group chief executive officer with effect from 3 January 2012.
Haverford makes new bid for Omega
Haverford informed the London Stock Exchange this morning that it had submitted a fresh bid for the Lloyd’s insurer.
Hardy sale: Canopius, Barbican and Aviva linked
As rumours circulate about which insurers will make an offer for Hardy Underwriting, sources have suggested Canopius, Barbican and Aviva could all be interested in the firm.
Review of the year - Lloyd's & London Market: The costliest year ever?
The first half of 2011 saw an unprecedented number of catastrophic events, so how has Lloyd’s and the London market coped?
Review of the year - Health insurance: Seeds of change
Despite a tough 12 months, and gloom forecast for 2012, the health insurance sector has planted important seeds for future growth this year.
HBL lowers offer for cat-hit Omega
Omega bidder Haverford has confirmed that it has cut its offer for 25% of the troubled Lloyd’s business to 74p per share.
Omega seeks clarification over Haverford bid as deadline approaches
Lloyd's insurer Omega has admitted that bidder Haverford is considering cutting its offer for 25% of the business.
Lloyd's insurer Brit appoints Evercore to sell £150m UK arm
Dutch insurance group Brit is looking to close the first round bidding process for its UK retail arm this week, Postonline has learnt.