December 2007/4

The Association of Insurance and Risk Managers (AIRMIC) has welcomed moves by the Financial Services Authority (FSA) to further investigate inefficiencies in the commercial general insurance market.

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.

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.

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).

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.

Listed Bermudian-headquartered legacy firm Enstar Group has acquired AMP Ltd's Australian-based closed (re)insurance operations for A$585mn ($518mn).

The joint venture platform established by the world's largest interdealer-broker ICAP plc and insurance intermediary JLT Group plc has brokered its first catastrophe swap trade, for 2008 North American windstorm.

Standard & Poor's (S&P) has upgraded the financial strength ratings on the main subsidiaries of the Royal & SunAlliance Group (R&SA) from A- to A.

Standard & Poor's (S&P) has upgraded ratings on Renaissance Reinsurance Ltd from A+ to AA- as it praised the company's parent for holding onto its competitive position in the property cat market following the departure of senior management in 2005.

Non-life insurance stocks contain some risk, but more reward despite exposure to the sub-prime crisis and the downward pressure on rates, according to Standard & Poor's (S&P) analyst Tony Silverman.

Marsh UK is expected to decide before year end on how it will deal with its embedded legacy burden, the broker has confirmed.