February 2008/1

John Houldsworth, the former chief executive of Cologne Re Dublin, came under fire at the General Re finite trial with defence lawyers questioning his honesty, reliability and memory.

UK regulator the Financial Services Authority (FSA) warned last week that it is scrutinising the wholesale broking industry and called on the sector to implement the necessary "culture change".

US insurer Allstate Corp has seen its reinsurance cost fall sharply after cutting back its catastrophe exposures.

Geoff Bromley, the former chairman of Guy Carpenter's European and Asian operations, has joined Aon Corp after serving a long notice period following his resignation last year.

Lloyd's has remained upbeat despite the market missing the 100 percent 2007 target for take-up on usage of electronic claims files (ECF) as it ended the year at 88 percent.

Ratings agency Standard & Poor's (S&P) has downgraded Bermudian life reinsurer Scottish Re Group after its investment portfolio continued to suffer from the sub-prime crisis.

Zurich Financial Services is expanding in Norway and Denmark through two new branches of Zurich Insurance Ireland Ltd (ZIIL).

Connecticut attorney general Richard Blumenthal has subpoenaed bond insurers as part of a probe into the fallout from the US sub-prime mortgage crisis.

Shares in AJ Gallagher & Co traded up last week after the company revealed it was divesting its reinsurance unit.

One of the largest providers of business to independent wholesale London market brokers is poised to launch an EC3 operation called Decus Insurance Brokers Ltd.

Towers Perrin has strengthened its reinsurance team with three key appointments in Bermuda and France.

Despite weaker market conditions, US insurer Chubb Corp saw its 2007 earnings grow on the back of strong reserve releases.