February 2007/1

Last week's launch explosion involving an SES New Skies Boeing-built satellite on a Sea Launch platform in the Pacific is likely to cost space insurers $256mn, with potential for further claims to hit the marine market.

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.

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.

US reinsurer Transatlantic Re has reported that the absence of significant catastrophe losses drove it to its "most successful year ever" in 2006.

Broker PWS Holdings is under investigation by the Serious Fraud Office (SFO) over an alleged $1.6mn Costa Rican reinsurance fraud.

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.