August 2008/1

A second consecutive quarter of heavy catastrophe losses took its toll on early reporting US insurers as profits slipped at Allstate Corp, Travelers, Liberty Mutual, WR Berkley and Chubb.

Early reporting Lloyd's (re)insurers offered results hit by the year's heavy cat claims and difficult investment conditions.

Two former directors of failed Lloyd's insurer Euclidian Underwriting Ltd have been fined, ordered to pay costs and agreed not to transact business at or set foot in Lloyd's without prior permission after being found to have failed to deal "in a transpare

The head of specialist reinsurance broker RK Carvill & Co Ltd's New York office has left the company, The Insurance Insider can reveal.

Marsh is set to undertake a significant shake-up later this year with the new management duo of Brian Duperreault and Dan Glaser poised to unveil sweeping changes at the global broking giant, The Insurance Insider understands.

Our monthly column keeping a check on recent US and EU legislative and regulatory developments, in association with Sidley Austin LLP

Aon recruits Benfield marine duo; Marketform expands into new lines; Xchanging continues $250mn M&A talks; UK Islamic insurer launched; Marsh UK parts company with senior exec; Coverzones boosts funding as carrier invests; RSA settles GM dispute; Amlin

Despite agreeing a deal with SCA and regulators to shed the majority of its $65.7bn pre-IPO notional exposures to the bond insurer, XL is still on the hook for potential liabilities under guarantees that were around $1.1bn in notional value at the end of

As the softening insurance cycle continues to pervade the industry – putting pressure on commissions and increasing competition between brokers for clients – the battle for market share is as fierce as ever.

Shares in Jardine Lloyd Thompson Group plc (JLT) fell around 2 percent to 404.5p despite the firm booking a 9 percent increase in revenues and trading profits in its half-year results.

US national carriers and Florida-only insurers created a surge in demand for Industry Loss Warranties (ILWs) last month, according to Jim Bryce, president and CEO of Bermudian cat specialist IPCRe.

Aspen Insurance Holdings warned of the danger to the (re)insurance industry from inflation – particularly in crop prices – as it booked Q2 net profits up 11 percent to $126.9mn, boosted by strong underwriting results and "solid returns" from investments.