December 2007/4

Critical issues surrounding the extension of the Terrorism Risk Insurance Act (TRIA) due to expire on 31 December need urgent attention if a bill is to be effective, according to a leading risk modelling firm.

Wendy Baker has resigned from her post as president of Lloyd's America to pursue other interests.

UK run-off firm Randall & Quilter Investment Holdings (R&Q) will see trading in its shares begin later this week as it completes its initial public offering (IPO) on London Stock Exchange's Alternative Investment Market (AIM).

Shares in Benfield Group have continued to slide following the reinsurance broker's profits warning last Monday.

Bond investors on Zurich Financial Services' (ZFS) loss-stricken Kamp Re 2005 paid out $29.7mn in losses from the principal amount of the notes on 14 December.

Arthur J Gallagher & Co (AJG) has bolstered its presence in the energy markets with the agreement to acquire a 38.5 percent stake in Jamaican-headquartered intermediary CGM Group (CGM).

With Kiln plc set to become the sixth Lloyd’s insurer snapped up this year after its board approved a £442.2mn offer from Japan's Tokio Marine & Nichido Fire Insurance Co (TMNF), attention has already turned to who the next target in the sector will be.

Questions over Bermudian reinsurer XL Capital's exposure to the sub-prime debacle continue to dog the firm as it mulls a rescue for monoline bond insurer Security Capital Assurance (SCA).

Anxious investors are awaiting the release of fourth quarter results from a number of banking groups this week, with concern mounting over the size of sub-prime related losses yet to come to light in the banking system.

Aon Corp is selling its US property and casualty arm Combined Insurance Co to ACE Ltd for $2.4bn and has committed to returning all the proceeds to its shareholders.

US insurance group American Finance Group Inc (AFG) has bought a majority interest in Lloyd's insurer Marketform Group Ltd, The Insurance Insider can reveal.

The US holding company of Bermudian (re)insurer Allied World Assurance Company Holdings (AWAC) has entered into an agreement to purchase Converium Insurance (North America).