February 2008/4

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.

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.

Lancashire Holdings Ltd has only traded for two years and, with its focus on specialty short-tail lines, couldn't be better timed. The lack of US natural catastrophes, energy or terrorism losses has enabled the "Class of 2005" Bermudian start-up to post a

Bermudian (re)insurer Max Capital Group Ltd has posted net income of $303.2mn, or $4.75 per fully diluted share, for the 2007 financial year - a 40 percent increase on 2006 boosted by strong growth in life and annuity premiums.

After two years characterised by more financial strength ratings upgrades than downgrades, AM Best has predicted actions will be more "fairly balanced" for US property and casualty (P&C) insurers in 2008.

All four major ratings agencies are ready to take action on American International Group (AIG) after the giant insurers shock admission that it faces far greater losses from its exposure to the continuing credit crisis than previously reported.

The number of sub-prime related cases filed in federal courts is dramatically outpacing the savings-and-loan (S&L) litigation of the early 1990s, according to a recent study.

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.

The Dubai International Financial Centre (DIFC) has entered into a joint venture with the London Court of International Arbitration (LCIA) as the emirate aims to establish itself as an international arbitration jurisdiction.

Negative goodwill arising out of the reverse merger of PXRE Group has boosted specialty (re)insurer Argo Group's 2007 results.