Reinsurance
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British Insurance Awards 2007
Flagstone Re adds four new execs
Bermuda-headquartered reinsurer Flagstone Re has announced four senior additions to its underwriting team, appointing Andreas Peter, Dominic Kirby, Rafael Saer, and Irshied Tayeb to senior roles in the underwriting team.
Broker: Lomas knew of payback deals
Dennis Lomas was aware of ‘payback’ reinsurance terms and contracts between Independent and Ireco in late February 2001 and it was believed that Michael Bright was almost certainly aware of their general nature, if not the finer detail, according to…
Hannover Re to open office in Bahrain
Hannover Re has announced it is increasing its reach in the Arab world by opening an office in Bahrain.
French broker brings in JLT boss to Alec Finch
French broker Verlingue is restructuring the Alec Finch Group to help increase its performance with ...
Appointment at Gallagher Re
Gallagher Re has made Mark Flower chief actuary for its UK operations. Mr Flower will lead the inter...
Aspen hires team for new professional indemnity push
Mitsui Sumitomo Insurance has moved quickly to shore up its professional indemnity business followin...
Aspen targets $100m book of ex-US professional liability business
Bermudian (re)insurer Aspen announced that it will enter the Professional Liability Insurance market in September 2007 through its UK subsidiary Aspen Insurance UK.
Leinster Syndicate to reapply for Lloyd's approval
A new Lloyd’s syndicate will reapply for approval to trade starting in November.
Amlin acquires £5.2m agency
Amlin has acquired Allied Cedar Insurance Group the holding company of Allied Underwriting Agencies and Cedar Insurance Company.
Flagstone gears up with $100m debt sale
Bermudian reinsurer Flagstone Re has announced that it has raised $100m through two private sales of junior subordinated deferrable interest debentures.
Benfield and Aon Re clash again for $2.4m
Reinsurance broker Benfield has filed for $2.4m in damages against rival broker Aon Re over what it claims is unpaid brokerage relating to proportional reinsurance treaties for the St Paul that Aon Re took over from Benfield.
UK flood claim estimates put at £500m
Initial estimates by Risk Management Solutions suggest that insured losses from this week’s floods could exceed £500m.
Aspen founders to cash out for $225m
Bermudian (re)insurer Aspen has announced that two of its founding shareholders, The Blackstone Group and DLJ Merchant Banking Partners are to float their stakes in the company in an underwritten public offering.
Carvill wins £2.5m unpaid brokerage fight
London Market reinsurance broker Carvill's US subsidiary is celebrating a $5m (£2.5m) court settleme...
Appointment at Ironshore
Ironshore has unveiled Mike Mitrovic as president of its professional liability facility, Iron Pro c...
Guy Carp appoints new Bermuda chief
Guy Carpenter has named Kevin Fisher as the new head of its Bermuda office, as well as announcing the expansion of office capabilities and resources in the Bermuda reinsurance market.
RAA hails US Non-admitted and Reinsurance reforms
The US House of Representatives has unanimously approved H.R. 1065, the Nonadmitted and Reinsurance Reform Act of 2007, which is designed to streamline the regulation of US nonadmitted insurance and reinsurance.
Lloyd’s and Benfield agree risk modelling deal
Benfield has signed a five-year agreement to provide a range of risk modelling and consulting services to Lloyd’s syndicates.
IPC returns capital in $100m buyback
Bermudian reinsurer IPC holdings has revealed that during the second quarter of 2007 it bought back $100m of its common shares, half of the $200m buyback facility agreed by the firm’s board back in April 2007.
Best sees 'somewhat magnified' risk in Montpelier Lloyd's move
Rating agency AM Best has said that it sees "execution risks that are somewhat magnified" for Bermudian reinsurer Montpelier Re as it opens its syndicate 5151 at Lloyd's and its MUI US underwriting operation.
Guy Carp to mandate paperless claims in some classes
Guy Carpenter is to mandate the use of the Electronic Claims File (ECF) for in-scope claims for all Lloyd's markets from January 1, 2008.
US judge awards broker $5m damages. Insurer gets $1
A Connecticut court has found in favour of Carvill America in a dispute with XL Specialty Insurance Company.
Crawford expands HNW offering following launch
Loss adjuster Crawford and Company will today launch a new claims offering for the high net worth ma...