Validus Holdings Ltd slightly sweetened its hostile bid for IPC Holdings Ltd. to $1.69 billion Monday, in its latest attempt to wrest the Bermuda reinsurer from rival Max Capital Group. Validus’ new offer of $30.14 per share includes $3 of …
Connecticut-based insurance consulting firm Conning & Co. has named Stephen W. Keep as director. An experienced marketing executive in U.S. insurance asset management, he will be based in Hartford. Keep will be responsible for marketing Conning’s investment services and products …
Demand for disaster derivatives is surging as insurers seek alternatives to scarce reinsurance and expensive catastrophe bonds, with the forthcoming North Atlantic hurricane season likely to give a further boost. Prices are at record levels for Industry Loss Warranties (ILWs) …
Standard & Poor’s Ratings Services issued a statement that its ratings and outlook on Germany’s Allianz SE (AZSE), currently ‘AA’/Stable/’A-1+’, and various core operating entities “are unaffected by the group’s marginal net income reported for first-quarter 2009.” S&P said its …
A good old-fashioned fight has developed between Bermuda-based Validus Holdings and the Max Capital Group over the latter’s planned amalgamation with IPC Re. At the end of March, Max announced that it had made a deal with IPC Re’s board …
Bermuda-based Montpelier Re Holdings Ltd. announced that Montpelier Syndicate 5151 will begin underwriting marine insurance business in August 2009. “The new marine account will consist of hull, cargo and specie classes,” said the bulletin. “Mike Southgate, who will join the …
The Bermuda-based Max Capital Group Ltd. Has won a skirmish in its fight with Validus Holdings over the acquisition of IPC Re when the Bermuda Supreme Court dismissed the application by Validus to expedite its suit against Max and IPC …
The Bermuda-based Catlin Group announced from its London offices that the “three explorers conducting the Catlin Arctic Survey returned from the Arctic sea ice late on Wednesday (13 May), marking the end of a scientific expedition to help researchers determine …
Validus Holdings has issued a statement in response to the decision by the Supreme Court of Bermuda not to expedite its lawsuit against IPC Holdings, Ltd. IPC Limited and Max Capital Group Ltd. (See related article above). The court rejected …
As Insurance Journal prepares for another Top 100 Independent Property/Casualty Agency List, to be published in our Aug. 3, 2009, magazine, the editors wanted to highlight a few of the current Top 100 agencies. Throughout the coming weeks, InsuranceJournal.com will …
