August 2008/2

US insurer Allstate is thought to have submitted a bid for Royal Bank of Scotland's up-for-sale insurance division (RBSI) of around £5bn, The Insurance Insider understands.

Independent Services Group (ISG) is poised to write homeowners insurance business in Louisiana following the formal completion of the purchase of US insurer in run-off Americas Insurance Company (AIC) from insurance services company Whittington Group.

UK independent broker Heath Lambert has reported "steady and consistent progress" in half-year 2008 performance, despite the sale of its wholesale/reinsurance units over the period.

Catlin Group Ltd has posted a good set of results "distorted by poor investment returns that should wash through", according to one analyst.

Shares in Lloyd's (re)insurer Advent Capital leapt last week after the company effectively rejected a formal takeover approach from its largest shareholder, Fairfax Financial Holdings.

Marsh & McLennan Companies Inc (MMC) won plaudits last week for its restructuring initiatives after confirming that at least 2,000 jobs will be cut in 2008.

As the remainder of the (re)insurance industry's second quarter results trickle through in the coming weeks, a clear distinction is emerging between winners and losers in the sector against the backdrop of a soft market and the deepening credit crunch.