Reinsurance
Max Capital in line for $50m after ending merger agreement with IPC
Max Capital, the Bermudian (re)insurer said it has terminated its merger agreement with IPC Holdings after IPC shareholders voted against the amalgamation of the two companies.
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Major European account to stay with Aon Benfield - sources
European insurance giant Eureko has renewed its major reinsurance account with Aon-Benfield, Reinsurance understands, in a deal understood to be worth up to €3.5m in revenue to the broker.
AM Best downgrades Puerto Rican reinsurer
US ratings agency AM Best downgraded the financial strength rating to B+ (Good) from B++ (Good) and the issuer credit rating to "bbb-" from "bbb" of Puerto Rican life reinsurer Popular Life Re. The outlook for both ratings is stable.
Broking arm offers service to demystify complex risks
Engineering risk consultancy Specialists in the Protection of Risks has launched a range of new services for brokers, insurers and reinsurers to help improve their understanding of complex exposures.
Ferma elects new president
Peter den Dekker, corporate insurance risk manager at Dutch multi-national Stork, has been elected President of the Federation of European Risk Management Associations. He took over from Marie-Gemma Dequae, whose mandate came to an end after four years…
AIU says raised $500m from Transatlantic share sale
AIU Holdings has said it has raised $500m from the sale of its share in US reinsurer Transatlantic Re.
Fitch downbeat over US P&C sector
The US property/casualty insurance market experienced a sharp decline in performance in 2008 and faces significant challenges in 2009, Fitch says.
IPC battle: Validus hits back
Validus Holdings has hit out at comments by Max Capital yesterday and insiste its exchange offer for IPC can close by the end of June.
Appointment at Cooper Gay
Cooper Gay has appointed David Skey as it looks to grow its share of reinsurance business in conti...
The end of the rainbow?
Long-tail Disease: ELIB
Max insists Validus has owned up over clear path claim in IPC struggle
Max Capital Group has claimed that the latest filings by Validus Holdings over its rival bid for Bermudian reinsurer IPC, show that Validus has conceded that no clear path to close a transaction with IPC exists.
Kelly steps in at Renaissance Re as Donner heads to US
Renaissance Re has appointed Jeffrey Kelly as executive vice president and chief financial officer, effective 6 July. He will succeed Fred Donner, who is leaving the company for personal reasons to return to the US.
Brit hires Munich Re underwriter
Brit Insurance has announced the appointment of Kevin Foley as class underwriter - international property.
No need for revolution in insurance regulation, says Lord Turner
In his first speech to insurers since becoming chairman of the Financial Services Authority, Adair Turner said that unlike in the banking world, "there is no equivalent need for revolution" in insurance.
Senior retro broker leaves Aon-Benfield
Richard Dunn, senior retro broker at Aon-Benfield is understood to have left the company earlier this month Reinsurance has learnt. He is understood to be on gardening leave. Aon-Benfield declined to comment on the speculation.
Insurance execs cautiously optimistic claims KPMG
Insurance executives are cautiously optimistic about the next 12 months, with many expecting to experience growth, according to a recent survey by KPMG International and the Economist Intelligence Unit.
Max hammers latest Validus offer
Bermudian (re)insurer Max Capital has dismissed rival Validus' increased bid for island rival IPC Holdings.
Validus ups IPC offer
Bermudian (re)insurer Validus has heated up the takeover battle for island rival IPC when it increased its offer for the company.
Max Capital, IPC sweeten deal
Bermudian (re)insurers Max Capital and IPC Holdings sweetened the terms of their merger on Thursday.
Aspen enters managed funds for ILS market
Aspen, the Bermudian (re)insurer, said that it has partnered with and invested $25m in Iris, a newly formed specialized investment fund focusing on insurance linked securities (ILS) and reinsurance globally.
Omega offer
Lloyd's insurer Omega is making an offer on behalf of Omega Dedicated, a wholly-owned subsidiary of ...
Plane tragedy may cost $1bn
The Air France plane that went missing over the Atlantic Ocean could result in $1bn (£0.6bn) of insu...
Cooper Gay ramps up continental European team
Cooper Gay has appointed David Skey to help it grow its share of reinsurance business in Continental Europe.