Generali: November 07 (ongoing)
First use of reinsurance in combination with a capital injection to meet statutory funding requirements inherent in a business transfer involving an 'A' rated underwriting operation. This approach reduced the cost of raising the statutory capital while providing policyholders with the additional comfort of a transferor backed by a company with an A+ rating.
Latest details of the CGIC/Generali project are available at www.citygeneral.co.uk