December 2008/4

Independent Lloyd's broker Tyser & Co has acquired a specialist treaty reinsurance broking team from RK Carvill & Co, the long-established reinsurance broker which announced it was closing down its operations earlier this month.

Troubled Australian insurer Insurance Australia Group (IAG) completed a partial withdrawal from the UK personal lines market with the sale of its Equity broking operations to UK High Street broker Swinton...

Insured catastrophe losses this year are estimated to have hit $50bn, making 2008 the second costliest on record, according to research from Swiss Re.

Restructuring continued apace at American International Group (AIG) last week. Ahead of its sale of Hartford Steam Boiler to Munich Re [see story 1] the troubled insurer announced the completion of the sale of $39.3bn face value...

Swiss Re has entered into a $1.5bn long-term letter of credit (LOC) facility with JP Morgan to support its life reinsurance business.