Reinsurance
Swiss Re calls for claims index to boost European ILS market
Swiss Re is advocating the establishment of a market loss index for natural catastrophe risks to aid the expansion of the insurance-linked securities (ILS) market in Europe.
Guy Carpenter in Benfield intercept
The West Coast of the US has seen a transfer of broking talent as Benfield’s Garick Zillgitt has moved to Guy Carpenter.
Axis reshuffle brings Reding to COO of insurance arm
Bermudian (re)Insurer Axis has announced the appointment of Dennis Reding, currently Chairman of Axis Insurance, to the new position of Chief Operating Officer of Axis Capital reporting to the CEO and President of Axis Capital, John Charman.
Chilton dismisses Nymex contracts
Benfield chief executive Grahame Chilton has dismissed the forthcoming Nymex-CME ‘Re-Ex Index’ tradable contracts as merely a revamp of a similar scheme his company had in the early nineties. “I think the world’s moved on since then,” he said in a…
Greenlight latest class of 2005 member to seek IPO
Greenlight Re, the Cayman-domiciled reinsurer has filed for an initial public offering of shares to raise up to $175m.
RAA calls for single US reinsurance regulator
The Reinsurance Association of America (RAA) has called for the United States to have a single reinsurance regulator.
Finch: Verlingue sale secures a bright future
Alec Finch's decision to sell up to French broker Verlingue has been ascribed to issues of successio...
Appointment at Brit Insurance
Brit Insurance has appointed John Bryce as onshore energy underwriter. Mr Bryce joins the company fr...
Appointment at Lancashire
John Melcon has been appointed CEO of Lancashire's Middle East marketing operations. Mr Melcon has m...
Marsh launches sidecar
Marsh has launched a sidecar that it is claimed will bring as much as $1bn in new capacity to the ma...
Validus files for $200m IPO
Class of 2005 Bermudian (re)insurer Validus Holdings has filed for an IPO with the Securities and Exchange Commission to raise approximately $200m.
Collins poaches Benfield exec for southeastern US
US reinsurance broker Collins has announced that Scott Fest has joined as senior vice president
Hannover Re raises $106m to support securitisation
Hannover Re has raised a further $106m from investors to support its ‘K5’ risk securitisation, unveiled last year. The ‘K5’ vehicle now stands at $520m.
Swiss Re launches latest mortality bond
Swiss Re has launched a $705m mortality catastrophe bond via vehicle Vita Capital III Ltd.
Atrium establishes new space consortium at Lloyd's
Atrium is broadening its space coverage as part of a realignment of its underwriting activities in 2007.
Omega pushes up to £275m capacity for 2007
Omega Underwriting has issued a bullish trading update, declaring an increased capacity plan off the back of a new offshore energy account.
CastlePoint in $50m IPO
Bermudian reinsurer CastlePoint Holdings has filed with the SEC for an initial public offering of shares to raise $50m.
Alec Finch sold
Manchester-based broker Alec Finch has today been sold to French broker Verlingue, which claims to be the tenth largest broker in France. Alec Finch has offices in Halifax, London and Manchester and the move is the first venture outside France for…
State farm jury awards $2.5m in damages following judicial intervention
A US jury has awarded $2.5 million in punitive damages to a couple who sued State Farm Fire & Casualty for denying their claim after Hurricane Katrina, according to reports.
Marsh establishes $1bn sidecar
Marsh has broken its post-Spitzer duck by once again making a substantial investment in the underwriting market.
Lloyd's admin branded "ridiculous" by Markel
A leading industry figure has labelled the administrative processes at Lloyd's as "absolutely ridicu...
Brit appoints onshore energy underwriter
Brit Insurance has appointed John Bryce as onshore energy underwriter.
Markel president lambasts Lloyd's aviation strategy
Markel president Tony Markel has launched a scathing attack on Lloyd’s recent willingness to accept new aviation capacity. Speaking at the behest of the Insurance Institute of London at Lloyd’s Old Library, he said he had been “appalled at the resigned…
Ace Tempest Re forms new Canadian underwriter
Ace Tempest Re Group has formed Tempest Re Canada, a wholly owned managing underwriter that will write all lines of property and casualty reinsurance for the Canadian market. Heading the operation will be Constantin Petalas, formerly chief executive…