January 2008/4

AM Best has affirmed the A- financial strength and a- credit ratings of "Class of 2005" Bermudian property cat reinsurer New Castle Reinsurance Company Ltd, based on strong performance since its launch.

Bermudian firms PartnerRe and RenaissanceRe have announced combined writedowns of more than $200mn from their stakes in financial guarantee reinsurer Channel Re.

US insurer Allstate Corp has been granted a ten-day stay against a suspension order from the Florida Office of Insurance Regulation (FOIR), enabling it to continue writing new business in the state while it provides the regulator...

Shares in Marsh & McLennan Group (MMC) spiked to $28.37 Thursday (17 January) - up 8 percent on their opening price - as news broke of an approach from rival Willis Group to open takeover talks for its larger rival.