February 2008/5

Swiss Re has joined a growing pool of major market players setting up as admitted carriers in the deregulated Brazilian market.

The US Supreme Court has refused to hear an appeal in one of the wind versus water cases spawned by Hurricane Katrina.

An "extended and inflexible" renewal season for the International Group of P&I clubs (IG) ended with an average 15 percent rate rise, according to broker Aon Corp.

Lloyd's (re)insurer Advent Capital Holdings PLC has seen net income rise to £19.2mn and has maintained a strong return on equity despite increasingly competitive market conditions.

Shares in Canadian conglomerate Fairfax Financial Holdings ended Friday flat despite the firm's record 2007 results with investment income of $1bn driven by credit default swaps (CDS) tied to...

John Charman, the renowned market veteran, has signed a five year deal to continue as head of Bermuda-based AXIS Capital Holdings Ltd, the company he founded.

Benfield Group must downsize in order to survive as the development of the insurance linked securities market reduces the traditional role of reinsurance intermediaries, according to Panmure Gordon & Co analyst Barrie Cornes.

The elusive value of acquisitive intermediary Towergate Partnership could be starting to crystallise after reports that executive chairman Peter Cullum is in talks to sell a 25 percent stake to a private equity group.

Acquisitive consolidator Giles Insurance Brokers Ltd is being purchased for £185mn by private-equity group Charterhouse Capital Partners, according to reports.

Catlin Group Ltd has closed its latest Newton Re cat bond transaction, as reported in our sister publication Trading Risk, with $150mn of 2008-1 Class A principal at risk variable notes affording three years of protection against...

Two of the leading enforcers of Marsh's contingent commissions during the heyday of so-called Placement Service Agreements (PSAs) were found guilty last week of taking part in bid-rigging.

Start-up Lloyd's Syndicate 2008 has completed its first reinsurance to close (RITC) deal with the closure of the notorious 2001 account on XL Insurance syndicates 861 and 588.