February 2008/5

Commercial property insurer FM Global has seen 2007 net income jump by 26 percent to $928mn defying increased competition in the market.

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.

Bermuda's Platinum Underwriters revealed it had significantly pared back premiums written at 1 January renewal as it reported record fourth quarter and full year profits.

Diversification costs have failed to dampen Bermudian reinsurer Montpelier Re Holdings 2007 profits.

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.

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...

Joseph Brown has been re-appointed as chairman and CEO at beleagured monoline bond insurer MBIA Corp.

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.

UK general insurer Royal & SunAlliance (R&SA) may update on its plans with its UK legacy exposures while unveiling its 2007 results later this week.

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.