April 2008/2

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.

The head of Lloyd's China, Ian Faragher, is to step down after two years in the role, The Insurance Insider can reveal.

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.

Thomas Busher is to head the European operations of Montpelier Re.

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

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.

Hector Sants, CEO of UK regulator the Financial Services Authority (FSA), has criticised the US' current rules on collateral for foreign reinsurers and bemoaned the slow pace of regulatory reform in the country.

The Supreme Court of Connecticut has ruled against Marsh & McLennan Cos (MMC) and given the state's attorney general Richard Blumenthal the green light to try to recover damages from the broker.

Reinsurance giants Swiss Re and Munich Re have come under pressure from activist investors over proposed board level changes in the last week.