April 2008/2

Lawrence Brandes, the head of Cadwalader Wickersham & Taft's reinsurance practice, has left the law firm to join rival DLA Piper in New York.

Reinsurers faced increased competition and a softening market at the recent 1/4 renewals, according to Willis Re.

Bermudian RenaissanceRe Holdings Ltd has bought US crop insurance managing general underwriter (MGA) Agro National.

The chairman of Australian insurer QBE Insurance Holdings blasted the Australian Stock Exchange for its "conflict of interests" following volatility in the company's share price which he blamed on short sellers.

US insurer Allstate Corp is likely to fall short of profit expectations when it reports its first quarter result later this month.

A US federal appeal judge has upheld the decision by Florida's insurance regulators to bar Allstate Corp from writing new business in the state.

Standard & Poor's (S&P) has granted AAA ratings to Berkshire Hathaway's start-up bond insurer.

Brit Insurance's exposure to the AMC-14 satellite that failed to reach its planned orbit last month is limited to $12mn before reinsurance, according to Numis Securities analysts.

Brokers are again cutting back their workforces as the tough trading conditions squeeze their margins.

The introduction of new laws in the UK covering corporate manslaughter has prompted one insurer to revamp its existing offering.

Sagicor Financial Corporation (SFC) - the Caribbean financial services group which bought Lloyd's insurer Gerling at Lloyd's and its Syndicate 1206 last year - announced an increase in net income to over $100mn in 2007.

Beleaguered Bermudian life reinsurer Scottish Re Group has suffered another ratings downgrade as uncertainty over its financial position continues.