April 2008/3

(Re)insurance broker Cooper Gay & Co Ltd is in advanced talks to acquire the wholesale operations of Heath Lambert Group, The Insurance Insider can reveal.

Specialist corporate finance firm Benfield Advisory has developed a new parametric reinsurance product, aimed at transferring workers' compensation catastrophe (WCC) coverage to reinsurers and the capital markets.

Credit crunch-hit Royal Bank of Scotland (RBS) could sell insurance subsidiaries Direct Line and Churchill to raise up to £5bn, according to industry commentators.

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.