Reinsurance
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...
Montpelier opens in Lloyd's to write US MGA business
Bermudian reinsurer Montpelier Re has announced that it has received approval from Lloyd’s for a new syndicate, to be known as Montpelier Syndicate 5151to start trading on July 1st 2007.
Lancashire secures $49m+ contingent equity facility
Bermudian (re)insurance start-up, Lancashire Holdings has announced that it has entered into a short-term contingent equity arrangement to provide it with at least $49m in funds at its discretion.
Aspen Re chooses Zurich for new European hub
Bermudian-parented reinsurer Aspen Re has unveiled plans to open a major European hub office in Zurich trading under the name Aspen Re Europe.
State Farm to place Jumbo $4bn Cat bond
US insurance giant State Farm is to place just over $4bn in catastrophe bonds through a vehicle called Merna Re.
Ex Cooper Gay board member given new Benfield role
Benfield has appointed Frank Rieder, senior vice president, to its international reinsurance and non-marine retrocession team.
G6 gains traction as Aspen Re signs up
Aspen Re, a subsidiary of the Bermudian group Aspen Insurance Holding, has announced the launch of a global IT platform based on the group of six (G6) standards.
Aspen backs G6 over e-trading
Aspen Re has launch of an IT global platform that will enable it to trade live risk messages electronically with Lloyd’s brokers anywhere in the world.
Fund dispute settlement
Broker Benfield and Aon this week announced that they had reached a conclusion with Lloyd's in relat...
Appointment at JDC Consultants
JDC Consultants has made two appointments to its team. Michael Kelly has joined as manager, special ...
Transparency troubles
Broker remuneration and transparency still concerns risk managers, according to an interactive surve...
Miles Smith highlights pitfalls of QBE asbestos policy
Broker Miles Smith has hit out at QBE's asbestos policy wording in a document sent to its sub-broker...
Our man in Havana ... and Jamaica ... and New Orleans
International loss adjusting
Penny Black's insurance week
Penny, on the phone this week with Call Connection, was quite happy to jot down the many details of ...