April 2008/2

Erinaceous Group Plc has announced it will be selling its insurance division, Erinaceous Insurance Services Ltd, to one of its lenders after entering into administration.

A slump in underwriting results in the US property/casualty insurance industry dented its profitability last year, according to Insurance Services Office (ISO).

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

State-owned reinsurer China Re has opened a representative office in London.

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.

American International Group (AIG) has renamed its Domestic Brokerage Group and appointed Kristian Moor as head, the insurance giant announced last week.

Lloyd's (re)insurer Advent Underwriting Ltd lost its chief underwriting officer Lloyd Tunnicliffe to rival Kiln last week.

The chairman and CEO of General Re Corp, Joseph Brandon has resigned.

Moves by the US government to overhaul its financial regulations and create a federal insurance regulator have provoked a mixed response from the industry.

Guy Carpenter global Fac chief Mark Newman has resigned his post to head (re)insurer Catlin's Asia Pacific rim operations.

Despite failing to cut capacity significantly in the face of market softening, Lloyd's will not repeat past mistakes, according to industry legend, Maurice "Hank" Greenberg.

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