Reinsurance
Omega: trading is strong
Lloyd's insurer Omega claims trading in 2008 is strong and in line with directors' expectations. Cha...
What the papers said this week
Eastern Daily Press Around 400 staff at Norwich Union could be affected by plans to outsource p...
Guy Carpenter appoints new Americas CEO
Guy Carpenter, the reinsurance broking arm of Marsh and McLennan, has appointed Andrew Marcell to lead its Americas broking operations.
Citizens $440m cover attracts big hedge fund support
Citizens, the Florida state-owned insurer of last resort, is close to seeing a 1st June $440m reinsurance placement completed by reinsurance brokers Benfield, Reinsurance understands.
Benfield invests $50m in captial markets vehicle
Benfield Group has made a cash investment of $50m into Juniperus Insurance Opportunity Fund which will be managed by Juniperus Capital.
Omega reports trading success
Lloyd’s (re)insurer Omega says trading in 2008 is strong and in line with directors’ expectations.
Ironshore still wants to buy into Lloyd's
Even after losing out on Heritage to Bermudian competitor Argo, Ironshore is still on the look out to buy a Lloyd’s operation, Reinsurance understands.
Adjuster giant merger latest crunch victim
A prospective merger of loss adjusting groups McLarens Young International and York Insurance Servic...
Appointment at Novae
Novae syndicate 2007 has appointed Keith Nichols to head up its specie and cargo units. Mr Nichols h...
Brit claims London market trading 'first'
Brit Insurance Holdings has commenced trading in insurance-linked derivatives on the Insurance Futures Exchange Services platform.
Brit to trade on IFEX
Brit Insurance, the UK-based international general insurance and reinsurance group, today announces that it has commenced trading in insurance-linked derivatives on the Insurance Futures Exchange Services platform (IFEX). Brit Insurance is the first…
Deacon and Arag launch new legal expenses cover
Blocks of flats insurance specialist Deacon has launched a new legal expenses policy in conjunction with niche legal insurance provider Arag.
Flagstone Re to issue $120m Valais Cat bond – sources
Bermudian-headquartered reinsurer Flagstone Re is to place a $120m worldwide retro Cat bond protection through a special purpose vehicle to be known as Valais Re, sources have told Reinsurance .
Randall & Quilter wins major US court case on Cavell run-off
A New York Federal court has dismissed outright claims by two US insurers in run-off, Seaton Insurance Company and Stonewall Insurance Company, against Cavell USA (a subsidiary of Randall & Quilter), and its chairman, Ken Randall.
Whittington Group to sell US insurer in run-off
Whittington Group has signed a conditional agreement to sell Americas Insurance Company in run-off to ISG Acquisition for an undisclosed sum.
Guy Carpenter to develop new global client development unit
Guy Carpenter, the reinsurance broking arm of Marsh and McLennan, has appointed David Priebe to head up its global client development group, which will build new business, manage client relationships and develop viable client-centred solutions.
Appointment at Talbot
Talbot has appointed David Turner to be its dedicated construction underwriter. Mr Turner has more t...
Aspen buys out original investor Candover for $100m
Aspen, the international specialty (re)insurer, has bought out Candover Partners, one of its original investors, for $100m as part of its $300m share buyback program.
AIG downgraded by S&P
AIG has been downgraded by US ratings agency Standard and Poors after posting a $7.8bn loss in the first quarter of the year.
AIG loses $7.81bn in Q1, to raise $12.5bn
Global insurer American International Group has reported a net loss for the first quarter of 2008 of $7.81bn and unveiled plans to raise $12.5bn in additional capital.
Benfield to open office in Puerto Rico; Piccinoni to lead
Benfield, the UK reinsurance broker, said it will open an office in Puerto Rico. Andres Piccinoni has been appointed as the chief executive of Benfield Puerto Rico.
Munich Re Q1 profits down 26%; GWP down 5%
Munich Re said the first quarter profits tumbled 26% to €586m, driven by a high payouts for early-season catastrophes and a heavy drop in investment income.
Arch unveils president
Arch Europe has appointed James Weatherstone, pictured, as president and chief executive. Mr Weather...