August 2008/1

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.

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

Lloyd's insurer Jubilee Managing Agency Ltd is continuing its expansion strategy with the appointment of property underwriter Martin Pope and a team from Travelers, The Insurance Insider understands.

Settlement talks between the New York attorney general's office and Maurice "Hank" Greenberg have postponed a deposition involving the former American International Group (AIG) CEO until after 1 September.

RK Carvill & Co Ltd has confirmed it is in "exploratory talks" to sell a stake to insurance focussed private equity firm, Stone Point Capital.

Hiscox Bermuda CEO and chief underwriting officer Robert Childs is to return to London and be replaced by Imagine Group Holdings Ltd's head of underwriting, Robert Forness.

American International Group (AIG) has been stung by the first wave of high profile departures at Ascot Underwriting, the Lloyd's managing agency it bought out last month.

A dispute between RSA plc and BAE Systems over a multi-million dollar reinsurance claim on a policy structured to cover revenue shortfalls on aircraft leased for regional routes is to be heard by the courts at the end of September.

Xchanging has agreed a major outsourcing deal with Cooper Gay, first revealed by The Insurance Insider, which will see 66 of the broker's legacy and ongoing business process staff transfer to the firm.

After keeping his counsel for most of his first three months at the helm of XL Capital, Michael McGavick was refreshingly candid in his assessment of the embattled (re)insurer as he addressed analysts at the start its Q2 earnings call.

Later this month, potential acquirers of a EUR100mn German run-off portfolio should receive information packs which will enable them to price their interest.