Reinsurance
Florida Cat change
The Florida legislator’s dramatic intervention in the State’s catastrophe (re)insurance market at the end of January will wipe out up to $2bn in reinsurance premiums and will have a dramatic effect on the worldwide property catastrophe market, a leading…
Indie hearing: Bright and Condon face the camera
Micheal John Bright, former company chairman and managing director of Independent Insurance and Philip John Condon, former deputy managing director, were filmed as they entered Southwark Crown Court for this week's preparatory hearing.
Markel sees income rise by $245m in 2006
Markel Corporation has recorded an impressive 2006, with net income up from $148m in 2005 to $393m, largely attributable to improved underwriting performance.
Marine market waits on beached cargo ship claims
The cargo ship beached on the UK's South-west coast is insured by at least four different companies,...
RMS estimates £1.9bn-£3.2bn windstorm loss
Risk Management Solutions has released an initial estimate of EUR3-5bn (£1.96bn - £3.27bn) for insured losses from Windstorm Kyrill.
Former CEO returns to head White Mountains
White Mountains has embarked on a reshuffle of its senior management. The company has once more called upon the services of Ray Barrette as chairman and chief executive officer, succeeding Jack Byrne as chairman and Steve Fass as chief executive. In…
Equity acquires Holdsure
Equity has acquired Carrickfergus-based insurer, Holdsure; a move designed to further consolidate its market leading position in Northern Ireland and closely follows its purchase of Belfast Broker, Open and Direct Insurance Services.
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.