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January 2007/5
  • Levene welcomes Indian proposals
    Lloyd's has welcomed news from India that its Finance Minister may open the country further to international investment.
    22 January 2007
  • Tiner steps down from FSA
    The CEO of the UK regulator, the Financial Services Authority (FSA), announced he would be stepping down in July this year in an unexpected announcement on 16 January.
    22 January 2007
  • Hardy hints at Bermuda move
    Hardy Underwriting could become the next Lloyd’s insurer to re-locate to Bermuda and take advantage of its lower tax rates, according to its CEO.
    22 January 2007
  • Atrium enters space race
    Lloyd's insurer Atrium announced the launch of a Financial Services Authority-regulated company to underwrite space risks on 16 January.
    22 January 2007
  • Omega launches $30mn offshore energy account
    Bermudian-domiciled (re)insurer Omega Insurance Holdings is to launch a $30mn offshore energy account for its Lloyd's Syndicate 958 this year, it announced in a trading statement last week (16 January).
    22 January 2007
  • ‘No wind, no problem’ for reinsurers
    It was a case of "no wind, no problem" for reinsurers during the recent renewal season, according to a report published last week by reinsurance broker Benfield Group.
    22 January 2007
  • R&SA defends spin-off decision
    UK insurer Royal & Sun Alliance Group plc's (R&SA) attempt to cut itself free from its US run-off business was heard at a public meeting last Friday (19 January).
    22 January 2007
  • Florida set to expand state reinsurance cover
    After a weekend of heavy legislating, Florida’s lawmakers have hammered out a bill to provide rate reductions on homeowners’ insurance costs which is likely to have a significant impact on the US property & casualty industry.
    22 January 2007
  • Europe needs a PCS: Swiss Re
    Swiss Re, the Zurich headquartered reinsurer which is pioneering the industry’s collaboration with the capital markets, has called on the creation of a new index for European natural catastrophes.
    22 January 2007
  • RAA pursues regulatory reform
    The Reinsurance Association of America (RAA) has called for comprehensive regulatory reform for reinsurance this year.
    22 January 2007
  • AXIS chairman changes role in restructure
    AXIS Insurance chairman Dennis Reding is to take up the position of chief operating officer at AXIS Capital as the Bermudian firm restructures.
    22 January 2007
  • ‘Independent Three’ back in court
    The preparatory hearing of the ‘Independent Three’ former directors of the collapsed UK insurer Independent Insurance took place at Southwark Crown Court this morning (22 January).
    22 January 2007
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