April 2008/3

UK financial services group Prudential Plc has delivered a 13 percent increase in new business, at £729mn for the first quarter of 2008, despite a "challenging" economic environment.

Integro Insurance Brokers is due to make two new appointments to boost its London platform.

FGIC Corp is trying to woo investors to back a proposed new AAA-rated bond insurance business as it looks at strategic options in an attempt to secure its future.

Former Wells Fargo executive LoriAnn Lowery has been appointed by Lloyd's as its new president of North America.

Lloyd's insurer Omega Insurance Holdings Ltd announced last week that it had terminated talks with potential suitors interested in acquiring the company.

Analysts and investors will scour XL Capital's first quarter financials tomorrow for further guidance on the Bermudian's exposure to the sub-prime fallout, as well as the potential impact from the spate of large risk losses hitting the sector in the perio

The Texas Windstorm Insurance Association (TWIA) is set to buy an additional $500mn of reinsurance cover for the 2008 hurricane season as it responds to increased coastal exposure.

China Re has opened its latest office in Hong Kong just days after it opened a representative office in London.

The US economy woes are set to continue and worsen as it faces a one-in-100-year crash similar to the 1929 stock market meltdown that preceded the Great Depression, according to Prem Watsa, head of Fairfax Financial Holdings.

UK motor insurance rates will have to increase by approximately 20 percent for the sector to return to profitability, according to UK financial services firm AA's recent Insurance Index.

The Financial Services Commission (FSC) of Gibraltar has appointed Michael Oliver as head of insurance.

There is almost a 100 percent chance of a major earthquake in California within the next 30 years according to the latest findings from the US Geological Survey (USGS).