December 2007/3

Record reserve releases have helped disguise poor 2006 underwriting performance in the UK motor sector, according to analysis by financial services consultant Deloitte & Touche.

Shares in bond insurers fell last week after rating agency Moody's Investors Service warned that MBIA Inc is "somewhat likely" to fall short of the capital required to maintain its rating as a result of potential mortgage-related losses.

John Hurrell has been appointed CEO of the Association of Insurance and Risk Managers (AIRMIC) after a prolonged search following the departure of David Gamble this summer.

(Re)insurance broker Lockton has continued the increasingly popular trend for building fac reinsurance business after launching a property division dedicated to the sector.

Bermudian insurer Aspen Insurance Ltd (AIL) has had its financial strength rating upgraded to A (Excellent) from A- (Excellent) by AM Best.

Hardy Underwriting Group (HUG) plc's proposed redomiciliation to Bermuda has generally been positively received by analysts.

Shares in reinsurance intermediary Benfield Group fell 8 percent to 279p this morning following a profits warning, despite committing to an advanced capital repatriation strategy, before recovering by late afternoon to 298.5p.

Lloyd's insurer Heritage Underwriting Agency is looking for a white knight alternative to Ironshore Inc, the $1bn Bermudian-based insurer which is keen to buy the firm.

Nearly half of European insurers have reflected strong AAA capital adequacy scores after assessment by ratings agency Fitch's new stochastic Prism model.

The UK government needs to develop a 25 year national flood strategy to help prevent a repeat of this year's devastating floods, a report by the Association of British Insurers (ABI) has warned.

Timothy Balducci, a co-conspirator of Richard Scruggs, the lawyer who successfully fought the tobacco companies in a series of class actions, has pleaded guilty to bribing a judge.

BMS have captured an agricultural treaty team from rival firm Cooper Gay Intermediaries.