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Liberty Mutual Retracts Biggest IPO of 2010

Liberty Mutual Group, based in the US state of Massachusetts, has announced the postponement of the initial public offering (IPO) of Liberty Mutual Agency Corp. (LMAC), citing the lacklustre demand from investors and the uncertain state of the US economy as main causes. Not so long ago it was heralded as the biggest IPO of 2010 in the US, Liberty Mutual Group had initially sought to raise almost US$1.3 billion (EUR 956 million) by selling 64.3 million Class A LMAC shares at an initial price of between US$18 (EUR 13.5) and US$20 (EUR 15) per share.

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Lloyd's Insurer Chaucer Opens New Office in Buenos Aires, Argentina

Chaucer Holdings Plc, the diversified insurance group which is a subsidiary of Lloyd's of London, has recently announced the opening of a new office in Buenos Aires, the capital of Argentina. This new office will operate on behalf of Chaucer Syndicate 1084, and is aiming to get a share of the facultative property and related risks in the Latin American market.

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Aviva say World Cup fever may inspire more than just love of the game

Apparently, part of the costs of insuring the World Cup include paying out property insurance claims for broken windows, which Aviva says have risen substantially above average during sports championships in the past. During the time the 2006 World Cup in Germany was going on, Aviva noted a 25%…

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