February 2012/1

Stalled legislation needed to implement Solvency II could undermine the main goals of the regime, according to European Insurance and Occupational Pensions Authority (Eiopa) chairman Gabriel Bernardino

Seven countries have expressed a tentative interest in being assessed for transitional equivalence to the Solvency II regime

The number of US lawsuits filed against Chinese companies listing on US exchanges rose almost threefold in 2011 to 62 cases, up from just 24 in 2010, according to Advisen's securities litigation report.

UK general insurers face a minimum increase of 36.7 percent to their levies from the Financial Services Authority (FSA)

Lawsuits alleging breach of fiduciary duty in M&A situations have driven securities litigation cases to a new high in 2011, US insurance analyst Advisen has said

BP has been dealt a second blow in as many weeks after a judge ruled that the UK oil giant must indemnify Halliburton for third party compensation claims arising from the Deepwater Horizon oil spill

US insurer Allstate has received a legal setback after a California court ruled that it could not hold Bank of America (BofA) liable for the toxic assets the insurer bought from Countrywide Financial Corporation (CFC)

French banking colossus Societe Générale (Soc Gen) is suing a host of London-based insurers over a $500mn claim for missing gold bullion that the insurers claim they are not liable for

The parent company of European legacy consultant Chiltington Group has purchased parts of a run-off portfolio from SV SparkassenVersicherung Holding AG (SVH), providing fresh evidence of the growing use of legacy solutions in continental Europe

Reinsurers do not expect Japan's other "big three" members, MS&AD and Tokio Marine, to follow NKSJ's lead by dramatically increasing their Thai loss number.

Zurich Financial Services (ZFS) could delay the auction process for the expected disposal of its legacy UK insurer Eagle Star until the second quarter, according to market sources

US P&C rates continue to rise; Transatlantic approves; $3.5bn mining crunch; Validation; Tokio Marine rewarded; European M&A rise; Axis move; Starr Wars; Brown & Brown reaches $1b;  Ironshore moves; Liberty claims; Integro hits $100mn