News – Page 470
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Hiscox purchases interest in Allison & Partners
Hiscox has acquired 49% of Allison and Partners, with an option to buy the remaining 51%
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Dubai fund to acquire Munich Re stake
Arabic Financial Circle looking to acquire 20% of Munich Re
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Bidding war causes marine rates to plunge
A bidding war between AIG and Starr Marine is pushing down premiums
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Hawaii braces for cat 4 Flossie
Hurricane Flossie is bearing down on Hawaii with maximum sustained winds of 140mph
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Montpelier surges on in US
Montpelier Re gains coverholder approval for syndicate; buys E&S company for $4.75m
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ACE forms construction group
New group will build on existing capabilities in construction underwriting
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Aspen Re launches exposure management tool
Risk management platform developed in conjunction with RMS
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Newly public Greenlight sees premiums grow
Greenlight Capital Re has seen gross premiums increase ten-fold in the first half of 2007
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Promotion at RenRe Ventures
Laurence Richardson has been promoted to senior vice president, RenaissanceRe Ventures
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Chaucer announces positive results for 2005 and 2006
But company predicts premium rates to weaken in 2008 and will decrease capacity of Syndicate 1084
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Quanta announces tender offer
Company announces conclusion of tender offer for its 10.25% series A preferred shares
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Credit Suisse firm licenses AIR model
Financial institution will use model to manage cat bond risk
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Karen Clark unveils new company
Karen Clark & Company to offer modelling consultancy services
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Reinsurance sector outlook revised to stable
Best revises negative outlook from two years ago
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Flood exposures hit Flagstone results
Flagstone announces new sidecar deal as flood losses see its Q2 profits dip dramatically
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Allianz profits up 17.7%
Operating profit up 17.7% to €3.3bn, although net income was down slightly
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No affect from Scottish Re delay
The delay in ratings will not affect results, unless it is over “a protracted timeframe”, says S&P
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Newly public Validus sees premiums grow
Validus saw net written premiums increase 100.2% in the second quarter of 2007