Reinsurance
AIG cancels Concord Re
AIG has cancelled Concord Re, the $730m (£371m) class-3 Bermuda sidecar reinsurer it set up in Augus...
Appointment at IPS
The IPS Group has appointed two advisors to its international advisory board: Sir David Brewer and P...
The Atlantic star
Andrew Beazley
Adjusting body warns insurers over fees
The Chartered Institute of Loss Adjusters has warned that its members will struggle to maintain service levels during widescale claims events unless there is a review of how firms are paid.
Guy Carp to open in Prague
Reinsurance broker Guy Carpenter has announced that it will be opening an office in Prague on 1 March 2008,. The new office will be part of Guy Carpenter's Central and Eastern European broking operations and will service clients in the Czech and Slovak…
Aon boosts electronic trading
Aon has completed as much as 80% of its 1/1 treaty reinsurance renewal placements electronically in December.
Endurance in capital markets push with new hire
Bermudian (re)insurer Endurance has announced the appointment of Win Hotchkiss to Endurance Worldwide Reinsurance as senior vice president for capital markets to spearhead an initiative to evaluate and drive alternative capital markets solutions on a…
Randall & Quilter receives Bermudian approval
Randall & Quilter has received approval from the Bermuda Monetary Authority for the registration of a Bermudan class 3 reinsurer R & Q Re (Bermuda).
Lockton Re to offer treaty in the US
Lockton Re’s team in London will offer all classes of treaty reinsurance in the US for the first time with the appointment of Adam Sayers, head of US reinsurance, and director Mark Trumper.
New $250m asbestos reinsurer opens on Bermuda
Bermuda-based reinsurer, St. George Re has started to write insurance for historical corporate asbestos risk with authorised capital of $250m. The company said it offers insurance coverage which protects against risk of loss from future asbestos claims…
IFEX gains traction with $31m in contracts traded
Reinsurance futures exchange IFEX has announced that since trading began at the end of September 2007 it has traded more than 3,100 event-linked futures (ELF) contracts, which is the equivalent of $31m of limit.
Spoiling the bunch?
Sub-prime fallout: UK litigation
Appointment at Heath Lambert
Heath Lambert has hired chartered loss adjuster Richard Hirst into its claims management executive t...
Appointment at RFIB
Christine Dandridge has joined the boards of RFIB Holdings and RFIB Group as a non-executive directo...
Appointment at Aspen
Aspen Insurance Holdings has appointed Bernard de Haldevang to head its political risk insurance div...
What the papers said this week
Daily Telegraph Towergate Partnership is planning a £1bn refinancing of the business to help to f...
CV Starr forms Bermuda and Lloyd’s sidecar
Starr Managing Agents (SMAL), part of specialty (re)insurer C.V. Starr, has announced a partnership with energy industry private equity firm First Reserve Corporation to form Lloyd's Syndicate 2243. The new syndicate will be part of Sideris Re, a new…
XL renews with smaller $136m Cyrus Re II retro sidecar
Bermudian reinsurer XL Re has announced a quota share reinsurance treaty with a newly-formed Bermuda reinsurance company, Cyrus Re II.
White Mountains cancels Helicon Re, citing market deterioration
White Mountains Re has acquired its Helicon Re retrocession sidecar Helicon Re Holdings for approximately $150m.
Hannover Re to open Life branch office in S Korea
Global reinsurer Hannover Re has announced plans to establish a branch office for life and health reinsurance business in Seoul in June 2008.
Swiss Re places €200m French windstorm bond for Groupama
Global reinsurer Swiss Re has structured and placed €200m of securities covering windstorm events in France.
More Lloyd's takeovers to come, says KBW
Financial analysts at Keefe Bruyette and Woods (KBW) have named Lloyd’s insurers Advent, Beazley, Catlin and Chaucer as attractive candidates for takeover bids from overseas companies in 2008.
Ironshore adds surplus shell to US offering
Bermudian start-up Ironshore has announced that its US subsidiary Ironshore Holdings, has completed the acquisition of TIG Specialty Insurance Company, a US-based excess and surplus lines insurance company, from TIG Insurance Company.
Willis: market reverting to "feast and famine"
Early reports reveal that reinsurance prices have fallen across most classes of business in line wit...