Reinsurance
Advent Re given licence to trade
Advent Re has received its class 3 reinsurer licence from the Bermuda Monetary Authority, effective 27 December 2006.
Property reinsurance rates "falling modestly" says Willis
Willis has released its reinsurance review of the marketplace for the January 1, 2007 renewals entitled “The Tipping Point?”
Private money floods into new Lloyd's syndicate
Hampden Agencies the largest members’ agent at Lloyd’s, has announced that private investors provided nearly £43 million in premium income capacity in three weeks for a new Lloyd’s syndicate, £28.6 million of which was supplied by Hampden’s own investor…
Crawford hire points to agricultural push
Crawford & Company UK is pleased to announce the appointment of Jane Eastham as a new member of the Ariel team for the South West of England.
Catlin unites staff as Lloyd's probe continues
Catlin has this week transferred 230 underwriters to its new London office as its control of Welling...
A job half done?
Lloyd's: run-off
Brit announces launch
Lloyd's insurer Brit Insurance has announced that it is to launch a specialist Bermuda-based reinsur...
Report: 2006 third lowest for insured losses in twenty years
According to preliminary estimates, natural and man-made catastrophes triggered total economic losses of around USD 40 billion, and cost property insurers worldwide USD 15 billion in 2006.
Harbor Point launches $250m retro vehicle
Class of 2005 Bermudian reinsurer Harbor Point has announced the formation of New Point Re, a retro sidecar company capitalised at $250m.
Talbot poaches Wellington and Creechurch teams as it announces 6% capacity rise
Lloyd's underwriter Talbot is increasing the capacity of its Syndicate 1183 to £325m for the 2007 year of account. This represents an increase of 6% over 2006 capacity of £307 million.
Hannover Re rating unchanged at AM Best following sale
A.M. Best has commented that the financial strength rating of A (Excellent) and the issuer credit rating (ICR) of “a” of Hannover Re will remain unchanged following the company’s announcement that it has agreed to sell Praetorian Insurance Group to QBE…
Gallaghers and Nymex launch property insurance futures trading
Gallagher Re, the specialist reinsurance intermediary and advisory firm, and the New York Mercantile Exchange (NYMEX), the commodities exchange, today announced that they have reached an agreement whereby NYMEX will list for trading and clear Property…
Brit re-enters retro with $100m Norton Re Bermuda start-up
Lloyd’s and UK company (re)insurer, Brit has announced that it is to launch a specialist Bermuda-based reinsurance company, Norton Re Insurance to write catastrophe retrocession business.
What the papers said this week
The Sun Pantomime stars have been told not to throw sweets to children in the audience for fear...
Kiln to buy Belmarine
Lloyd's insurer Kiln has revealed it is to buy Belmarine Insurers. Belmarine, which is based in Lieg...
Adjuster hits UK radio
Cunningham Lindsey's venture Fraudline is set to have its first series of radio advertisements in th...
Trident sells 3m Axis shares
Class of 2001 Bermudian (re)insurer Axis has announced that one of its founding investors, the Trident II fund and related entities have agreed to sell three million of Axis’ common shares in a block trade.
Hannover Re completes US specialty exit with Praetorian sale
Hannover Re today has announced it is to sell its US subsidiary, Praetorian to QBE.
Advent latest to join Lloyd’s Bermuda rush
Lloyd’s–based catastrophe reinsurance specialist Advent is to set up a reinsurance operation in Bermuda.
Kiln buys Belgian marine agency
Lloyd's (re)insurer Kiln has announced it is to buy Belmarine Insurers for approximately €9.45m including a deferred element estimated to be €1.08m.
Marsh offers ACA training
Broking giant Marsh has received accreditation to offer the associate chartered accountant qualifica...
Aspen launches alternative to credit default swap
Aspen Insurance today announced the completion of an insurance policy which has characteristics similar to a credit derivative. The policy is for up to $420 million of reinsurance receivables, in a transaction with Deutsche Bank, an AA rated investment…
Bermuda platform Syncro behind ICAT-Chaucer deal
It has emerged that Syncro, a Bermuda-domiciled financial platform which was established earlier this year {link}, was used for the recent transaction which saw ICAT Holdings set up a Lloyd’s syndicate for 2007 .
Benfield in bumper $19.5m Lancashire pay-day
Reinsurance broker Benfield has pocketed $19.5m from the sale of warrants in class of 2005 Bermudian start-up (re)insurer