January 2007/6

State-founded Citizens Property Insurance – already the largest insurer in Florida – is likely to gain an even bigger share of the market as a result of legislation signed into law by Governor Charlie Crist on Friday.

Munich Re said its pre-tax losses from the European Windstorm Kyrill will be around EUR600mn and estimated the overall market loss at EUR5-7bn.

Bank of America has launched a Lloyd's syndicate specialising in writing long-tail lines, our sister title The Insurance Insider revealed this morning (29 January).