August 2009/1

The House of Lords last week ruled that accountancy firm Moore Stephens is not liable for a failure to unearth an $89mn fraud at a commodity trader that it audited.

A London-based energy team focused on UK independents are leaving Aon to join the Global Energy division at rival broking giant Willis, The Insurance Insider understands.

Hannover Re's latest catastrophe bond, Eurus II, closed on the 29 July, providing the reinsurer with EUR150mn of European windstorm cover and taking overall 2009 cat bond issuance to $1.8bn.

Fast-expanding insurer Torus Holdings has appointed Naveen Anand - CNA Insurance’s former senior vice president of commercial insurance - as global chief operating officer...

Expansive Bermudian insurer Ironshore has grown its global property division by establishing a dedicated global energy property business.

The landmark House of Lords decision to unanimously re-confirm the principle that a period clause is fundamental to an English legal reinsurance contract has been praised as a "victory for common sense".

Shares in Fairfax Financial Holdings traded up 5 percent Friday (31 July) after the Canadian combine unveiled a net profit of $275.4mn for the second quarter.

Gallagher's Global Energy initiative took another decisive step last week with news that the firm has opened a Calgary office, The Insurance Insider can reveal.

Recovering stock markets through the second quarter helped ease the woes of troubled US insurance giant the Hartford Financial Group, as it posted an operating profit that sent its share price up.

The Coalition for Competitive Insurances Rates (CCIR), which includes the Association of Bermuda Insurers and Reinsurers (ABIR) as a member, has blasted the proposed Neal Bill introduced in the US House of Representatives on 30 July.

French reinsurer Scor's net income for the first six months of the year dropped by 24 percent from H1 2008 to EUR184mn, as investment income more than halved...

Pamplona Capital Management, the Russian-backed private equity firm, is still waiting for clearance from the Financial Services Authority (FSA) to build a pivotal stake in the listed Lloyd's insurer Chaucer Insurance Holdings.