February 2008/4

The acquisition of Caribbean property insurer Island Heritage boosted the premium income of "Class of 2005" reinsurer Flagstone Re, which rose 91 percent last year, it revealed in its 2007 results yesterday (18 February).

Airline rates rose by 10 percent in January as the airline market showed tentative signs it may have finally turned away from further softening, according to a report by Aon Aviation.

Two years after Kinnect was finally abandoned, Lloyd's is considering piloting a new messaging hub to exchange complex data between managing agents and brokers.

Bond insurer FGIC Corp has told regulators it wants to break into two in a bid to save its credit rating, according to a New York Insurance Department spokesman.

With 60 percent of Florida catastrophe premiums going to Bermuda, the island’s property cat reinsurers could be in for a windfall if legislation is passed next month to cut the temporary increase in the state fund and give $3bn of limits back to the marke

US insurer CV Starr & Co has announced a tie-up with Allied World Assurance Company (AWAC) enabling it to offer management liability lines on behalf of the Bermudian firm.

Shareholders in Lloyd's (re)insurer Kiln Ltd have approved the cash acquisition of the firm by Tokio Marine & Nichido Fire Insurance Co Ltd at a special general meeting last week.

Veteran class action lawyer Bill Lerach, who represented Enron investors and other shareholders suing large corporations, has been sentenced to two years in jail for making improper payments to clients in a kickback scheme.

Lloyd's has confirmed it is in the process of making a formal application to become an admitted reinsurer in Brazil, a move first revealed by The Insurance Insider, following the country's plans to scrap its collateral requirements for higher rated reinsu

ESR Insurance Services Ltd - the Lloyd's broker hit by allegations of fraud in its surety bond division - has gone into administration.

Analysts reacted with cautious optimism as organic growth boosted Marsh and McLennan Companies Inc’s (MMC) 2007 revenues in its 2007 results, which were published last week.

US retail broker Brown & Brown, Inc has announced an increase in its 2007 revenues in its results last week.