April 2009/1

Swiss Re's efforts to rehabilitate itself with investors will include cutting its workforce by 10 percent over the next 12 months and streamlining its global operations under new chief operating officer Agostino Galvagni.

The bitter dispute between rival London market brokers BMS Group and CJ Coleman (CJC) has erupted again, The Insurance Insider can reveal, after former managing director of BMS Harris & Dixon Ltd (BMS H&D) John McCormack allegedly breached restrictive cov

Welcome to The Insurance Insider's regular section, Courtwatch, dedicated to providing analysis on all UK litigation involving (re)insurers with a particular mandate to focus on the impact of the credit crunch…

Lloyd's bolts on Berkshire exec; Pembroke expands capacity - confirms Liberty hires; Allianz led $18.5mn North Sea helicopter loss; Former Gen Re exec in FSA ban; Colemont takes Aon duo; Turner attacks EU passporting; Ark builds on strong first year; Case

Run-off (re)insurer Alea Group turned around its 2007 post-tax loss of $78.2mn with a 22.5 percent reduction in its liabilities from $1.5bn to $1.2bn and a profit of $3.9mn.

UK-listed legacy vehicle Tawa plc saw deepening losses in the bond portfolio of its run-off subsidiary CX Re drag it to a 2008 after-tax loss of $42.4mn.

Troubled outsourcing firm Axiom Holdings is believed to be considering job cuts as part of the terms of its proposed acquisition by Charles Taylor Consulting.

Deutsche Rück has scheduled an 18 May creditors' meeting to test the waters for approval of its solvent scheme of arrangement.

Lockton International is outsourcing its London professional indemnity (PI) claims broking department to commercial liability claims specialist Devonshire Claims Services (DCS).

Lloyd's was able to show further progress in shutting down prior-year liabilities in its 2008 annual results, as a flurry of year-end transactions demonstrated the appetite in the market to write reinsurance-to-close (RITC) business.

UK regulator the Financial Services Authority (FSA) has granted "Industry Guidance" status to the market guidelines developed by broker trade bodies to deal with the thorny issue of transparency and disclosure around commissions and conflicts of interest

Despite their recent travails, American International Group (AIG) and XL Capital security featured heavily on the Millers-placed International Group of P&I Clubs (IG) excess of loss programme.