February 2008/2

Finality expected on some of the market's kitchen sink years

The run-off market has welcomed a potential new buyer of discontinued books – JMD Specialist Insurance Services.

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

A New York court has recognised the jurisdiction of the UK courts in the insolvency of run-off insurer Highlands Insurance Company (UK) Ltd.

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.

In January, IFEX saw trading volumes increase and added depth to the market with the partnership of Swiss Re as market maker.

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.

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...

US retail broker Brown & Brown is poised to launch an EC3 platform, called Decus Insurance Brokers Ltd, which is likely to draw business away from independent wholesalers who currently access the London market on its behalf.

Despite reporting healthy earnings, broker Willis Group disappointed analysts with its lack of organic growth for the fourth quarter.

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

Other than the fact that Warren Buffett has promised $37bn+ of his fortune to Bill Gates' charitable foundation, Keefe, Bruyette & Woods analyst William Hawkins' observation...