Reinsurance
Dandridge bows out of Atrium-Ariel combo
Following the announcement of its agreed takeover by Ariel Re Christine Dandridge, active underwriter of Lloyd's Syndicate 609 and an executive director of Atrium Underwriting has informed the board of Atrium of her intention to step down from her active…
Ariel Re to buy Atrium for $380m cash
Class of 2005 Bermudian start-up Ariel Re has made a unanimously agreed cash offer for Lloyd's (re)insurer and managing agent Atrium for 365p a share, valuing the group at £193m ($386m).
Alien reinsurers increase share of US market to 53%
The Reinsurance Association of America (RAA) has reported that in 2006 offshore companies’ share of US unaffiliated reinsurance premium increased to 53.1% in 2006 from 51.8% in 2005, albeit on ceded premium volume that declined 11.9% to $54.7bn.
For the greater good
The harsh reality of homelessness appears to have hit the insurance industry between the eyes this w...
Appointment at Aon
Aon has appointed Richard Brough as a senior health and safety consultant. He will be responsible fo...
Marsh loses defection case
Guy Carpenter has failed in its bid to sue three employees who defected from the company under US la...
Phelan exit from Munich Re sparks top team reshuffle
Munich Re has announced that John Phelan will retire as a board member of Munich Re and as chairman and CEO of its subsidiary Munich Re America.
IPC takes up to $100m Cat hit in UK and Australia
Catastrophe reinsurance specialist IPCRe has issued a profits warning that its second quarter 2007 earnings will be negatively impacted by the storms and flooding that affected New South Wales, Australia in early June, and by the flooding in parts of…
Guy Carp hires UK retro specialist
Marsh group reinsurance broker Guy Carpenter has announced the appointment of Simon Welton as senior vice president of the firm’s UK retrocessional practice, effective immediately.
Guy Carp hires Welton for London retro practice
Guy Carpenter has hired Simon Welton as senior vice president of the firm’s UK retrocessional practice, effective immediately. Mr. Welton, 41, will be based in London, reporting to managing director James Boyce.
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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.