Douglas McLeod (mailto:dmcleod@BusinessInsurance.com)
HAMILTON, Bermuda—Gamut Reinsurance Ltd., a new catastrophe reinsurer, has raised $310 million in a private placement of five classes of notes structured to provide varying levels of risk and return to investors. Domiciled in the Cayman Islands, Gamut Re will be managed by Bermuda-based Nephila...
SAN MATEO, Calif.—Private equity fund Trident IV L.P. is committing up to $100 million to form Edgewood Partners Insurance Center, a new property/casualty and employee benefits broker in California. Edgewood will be headed by John G. Hahn and Dan R. Francis. Mr. Hahn will leave his current spot as...
NEW YORK—A Canadian man has pleaded guilty to bilking dozens of commercial policyholders of $8.5 million by issuing bogus liability policies in the names of Lloyd’s of London underwriters and other insurers. Ian Stuart, who operated purported surplus lines brokerages in New York and suburban...
CLEVELAND—A surplus lines unit of American International Group Inc. is suing underwriting rival Catlin Inc. for allegedly poaching seven employees from offices in Connecticut and Ohio. AIG’s A.I. Risk Specialists Insurance Inc., a managing general underwriter for Lexington Insurance Co., filed the...
NEW YORK—Guy Carpenter & Co. Inc. is suing three former top London-based officials over their resignations last month to join Integro Insurance Brokers Ltd. The suit, filed late last week in U.S. District Court in New York, does not seek to enforce noncompete agreements; instead, it charges...
