February 2008/4

Bermudian financial guaranty and credit (re)insurance specialist Assured Guaranty Ltd (AGL) fell to a loss of $260.1mn in the fourth quarter of last year after taking a $297.5mn sub-prime derivative hit.

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.

A significant reduction in the UK’s run-off liabilities has driven a EUR2bn decrease across Europe, according to a new survey launched by PricewaterhouseCoopers LLP (PwC) in conjunction with the Association of Run-Off Companies.

Royal Bank of Scotland Insurance (RBSI) has culled 100 middle managers as part of its ongoing restructuring that aims to align its disparate brands and prevent them undercutting each other.

US insurer Liberty Mutual Group saw profits fall 7 percent last year, down to $1.5bn from $1.6bn in 2006.

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