Bermuda
Hardy boss looks to the future after restructure and sale are finalised
Hardy chief executive Barbara Merry has said the business can now “look to the future”, following a restructure of its property treaty book and conclusion of its sale to US insurer CNA.
Hardy acquisition completed
Hardy has ceased trading on the London Stock Exchange as of today following completion of its acquisition by CNA Financial.
'Unresolvable differences' forces Axis Capital chairman to step down
Bermudian reinsurer Axis Capital's non-executive chairman, John Charman has stepped down after he was unable to "resolve differences" with the board of directors over "his understanding of the role and responsibilities of the chairman position".
Solvency II: Equivalence versus non-equivalence
Solvency II has had more than its fair share of headlines recently but, as Fiona Le Poidevin explains, countries outside European Union jurisdiction or 'third countries' have to think carefully when considering whether or not to seek equivalence to the…
Hiscox April renewals beat expectations
Hiscox has said it withheld reinsurance capacity on the first quarter in anticipation of higher rates, adding that April renewals had beaten expectations. But it warned that the UK market is still "under pressure".
Canopius makes play for Omega in bid to grow PE-backed Lloyd’s insurer
Canopius chairman Michael Watson has acted on ambitions to grow his private equity-backed Lloyd's insurer, with a £164m takeover of struggling Omega in a deal that sees a slice of the business sold to US insurer Tower Group.
Redomiciling: London calling as tax changes make the UK more attractive
Will a reduction in corporation tax and changes to the Controlled Foreign Companies regime make the UK a more attractive place to domicile?
Canopius details Omega takeover savings and possible Tower Bermuda sale
Canopius chairman Michael Watson said that taking over Omega will be the "last big deal", but is not the end of its "ambitions".
Canopius swallows Omega for £164m
Omega bosses have agreed to a takeover by Canopius and will recommend the 67p a share cash offer in a deal worth £163.6m.
Randall & Quilter suffers after tax loss following goodwill charge
A £13.5m goodwill impairment charge has resulted in bosses at Randall & Quilter announcing an after tax loss of £488 000 in 2011, following a 2010 profit of £6.4m.
Knipper to succeed Mayr as CEO of Axis Re Europe
Bermuda-based Axis Capital will make changes to its European management team over the course of 2012.
XL Bermuda boosts D&O risks covered
XL Insurance (Bermuda) has boosted it D&O cover to pay for independent directors’ defence costs in the US under Sarbanes-Oxley and Dodd-Frank and the UK Bribery Act.
Omega international appeal soars following CNA £143m bid for Hardy
CNA acquiring Hardy could trigger a rush by international players to purchase Omega in a bid to access Lloyd's, analysts have predicted.
Insurers gear up for Finance Bill detail in hope of simplified CFC process
This week's publication of the long-awaited Finance Bill could provide the catalyst for overseas investment, while also serving to safeguard the status quo of UK-headquartered insurance companies.
UK P&I club to establish UK Europe as sole direct insurance provider
The UK Protection and Indemnity Club has announced that it is reorganising its structure to establish UK Europe as the sole provider of direct insurance to UK Club members.
CNA to acquire Hardy
US commercial insurer CNA is to acquire Lloyd's insurer Hardy Underwriting.
Ex-Kiln Bermuda CEO Haynes handed non-exec role at Tysers
Lloyd's broker Tysers has today announced the appointment of finance expert Peter Haynes as a non-executive director.
View from the top: New syndicates essential if Lloyd’s market is to thrive
As Lloyd’s tackles the thorny issue of distribution, perhaps a fundamental issue is that it must encourage the market to continue to rejuvenate by enabling the creation of new syndicates.
Arch acquires Ariel Re's Zurich-based credit business
Arch Capital Group is to acquire Ariel Re's Credit & Surety reinsurance operations based in Zurich.
MEPs on the front foot as Prudential sparks fear of mass insurer exodus
Solvency II concerns in the spotlight after UK giant linked with Hong Kong move
Editor's comment: Leaving on a jet plane
Reports that the Prudential is looking at jumping into Asia after 164 years has made some obvious waves around the sector.
Houghton departure triggers new Aspen board search
Aspen has begun the search for a new chief financial officer to succeed Richard Houghton, who will be leaving the company effective 29 February to pursue other opportunities.
Houghton departure triggers new Aspen board search
Aspen has begun the search for a new chief financial officer to succeed Richard Houghton, who will be leaving the company effective 29 February to pursue other opportunities.
Catlin reports reduced profits due to cat losses
Bermuda-based speciality reinsurer Catlin Group reported $71m profit before tax for 2011, down from $406m for the 2010 year.