February 2008/2

Our monthly column keeping a check on recent US and EU legislative and regulatory developments, in association with Sidley Austin LLP

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

Despite what some believe is over-capacity in the sector, Alea chief Mark Cloutier is confident that by setting up the latest reinsurance-to-close (RITC) syndicate at Lloyd's...

David Bedford, director of Lloyd's broker ESR Insurance Services Limited (ESR), has been arrested and released on bail without charge in connection with a police investigation into an alleged fraud for millions of pounds.

Concord Re, the $730mn sidecar established by American International Group's (AIG) subsidiary Lexington Insurance Company in 2006, has been non-renewed for 2008, as predicted by The Insurance Insider last year.

Bermudian reinsurer RenaissanceRe is to launch its first cat bond - CPX Re - to provide US all natural perils cover, our sister publication Trading Risk revealed.

Warren Buffett has accused major investment banks of being the architect of their own downfalls through the collapse in the US sub-prime mortgage market.

Despite the unprecedented scale of the Societe Generale "rogue trader" fraud, the bank's insurers may not be exposed to their full limits because of the technical nature of financial institutions (FI) cover...

Analysts continue to focus on uncertainty surrounding troubled (re)insurer XL Capital, after the company reported fourth quarter results in line with last month’s sub-prime loss fuelled profits warning.

Brian Duperreault's appointment at the helm of Marsh & McLennan Cos (MMC) looks to have bought the ailing company breathing space from growing pressure exerted by activist investors...

Risk modelling firm Risk Management Solutions (RMS) is launching a series of natural catastrophe indices for US wind and quake, and European windstorm under the banner Paradex.

The US Securities and Exchange Commission (SEC) plans to turn its sights on the hedge fund community as a target for future investigations into business practices.