April 2008/3

Munich Re warned its first quarter 2008 profits are likely to be down on last year's, following "major losses" in the first three months of the year.

The European Commission has launched a public consultation on whether the (re)insurance industry should remain exempt from the European Union's anti-trust rules.

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.