February 2008/1

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

Rating agencies - those all-powerful arbiters of insurers' destinies - are getting restless and it is not just the monoliners who are in their sights.

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.

St Paul Travelers' UK operations are following the lead of its US parent company and rebranding as Travelers.

Recently listed legacy specialist Randall & Quilter Investment Holdings plc (R&Q) is to release £11mn in capital from its Chevanstell Ltd unit.

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.

Bermudian reinsurer Everest Re reported a 21-point deterioration in its combined ratio for the fourth quarter after its larger-than-expected asbestos charge to reserves.

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.

Specialty reinsurance broker Carvill’s ReAdvisory arm has appointed Dr Steve Smith as president of its new property solutions division.

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".

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