February 2007/1

London market bodies reported an "electronic processing surge" and claimed that a quarter of all the market’s premium transactions could be handled by the end of February.

Converium Holdings' chief executive Inga Beale has continued to re-shape the reinsurer's management with the appointment of Benfield Group’s Jakob Eugster.

Reinsurance giant Swiss Re confirmed it has sold its landmark London offices, 30 St Mary Axe, to the property firm IVG Immobilien AG for £600mn under a "sale-and-leaseback" arrangement.

A US federal judge has ruled that former Gen Re and American International Group (AIG) execs accused of improper finite reinsurance transactions will have to face fraud charges.

Numis Securities has lowered its earnings forecast on the UK-headquartered broker Jardine Lloyd Thompson Group plc and reiterated its sell recommendation on the company's stock.

Lloyd's insurer Heritage Underwriting reported a 31 percent increase in its written premium last year.

"Class of 2005" member Lancashire Holdings has reassured investors that it would not be hit by the controversial increase in the Florida Hurricane Catastrophe Fund.

Lawrence Hamermesh, a law professor appointed by the Delaware insurance commissioner to examine whether the state should approve Royal & Sun Alliance’s (R&SA) plans to spin-off its run-off US subsidiary...

Traditionally, the (re)insurance industry has seen run-off as a solution to its distressed and discontinued books of business.

Marsh & McLennan Companies, Inc (MMC) will use part of the $3.9bn proceeds from the sale of asset management arm Putnam Investments for acquisitions, according to president and CEO Michael Cherkasky.

US insurer State Farm Fire & Casualty Co has had the $2.5mn jury award of punitive damages it was ordered to pay to a couple in Mississippi for a Katrina claim reduced to $1mn.

Bermudian ACE Ltd became the latest (re)insurer to benefit from an unexpectedly benign catastrophe environment as it revealed record 2006 operating income of $2.35bn, last week.