February 2008/5

After last year's SFr1.2bn write down of credit swaps, analysts have speculated that Swiss Re could face further losses from sub-prime and credit market exposure ahead of the group’s results due out this Friday.

Aon Corp has bought Chicago neighbour AJ Gallagher & Co's (AJG) reinsurance arm Gallagher Re - in a move first predicted by The Insurance Insider.

The London market has moved a step closer to eliminating paper from premium processing, according to the Market Reform Group (MRG).

Ron Sandler will continue as chairman of Bermudian insurer Ironshore Ltd after taking the helm at newly nationalised UK bank, Northern Rock.

US tax authority the Internal Revenue Service (IRS) has withdrawn its proposal to alter tax arrangements for US captive insurers.

A change to the jury last week has caused a delay in reaching a verdict in the trial of Gen Re and American International Group (AIG) executives over an allegedly sham finite reinsurance contract.

The US Court of Appeals has rejected the asbestos settlements reached by US insurer Travelers Cos with policyholders in March 2006.

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.

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

US retail broker Brown & Brown is to formally launch its London market platform, Decus Insurance Brokers Ltd, with a team led by former Gallagher broker Melanie Alexander.

The Council of Lloyd's has invited chairman Lord Peter Levene to remain at the Corporation for an unprecedented third term.

Munich Re beat its increased profit projections for 2007 as it booked a consolidated result of EUR3.9bn for the year, up 11.9 percent on 2006.