December 2007/3

UK run-off firm Randall & Quilter Investment Holdings (R&Q) is looking to raise around £20mn when it lists on the London Stock Exchange's Alternative Investment Market (AIM) later this month.

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.

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.

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

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

XL Insurance, the global insurance operation of XL Capital has completed the purchase of Global Asset Protection Services (GAPS) from Swiss Re.

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.

US giant American International Group (AIG) has asked a judge to make a summary judgement in its dispute over share ownership with Starr International Company (SICO).

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.

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

Cevian Capital, the activist investment fund backed by Carl Icahn, has taken a 3 percent stake in Munich Re.

The UK Financial Services Authority (FSA) is to further investigate inefficiencies in the commercial general insurance market before deciding on whether to mandate commission disclosure.