January 2008/5

Specialty insurance group Markel Corporation has improved on last year's record performance despite seeing its combined ratio rise, it reported in its 2007 results.

A long-running lawsuit filed by Massachusetts State over a fatal tunnel collapse and numerous leaks and design flaws in the massive Big Dig highway project has been settled.

In a letter to shareholders Max Re chairman and CEO Marty Becker said the company would be looking to make acquisitions this year as it makes "economic sense" at this time in the reinsurance cycle.

XL Capital's decision not to bail out Security Capital Assurance Ltd (SCA) and its financial guaranty insurance subsidiaries has led ratings agency Fitch to slash the bond insurer’s financial strength ratings from AAA to A.

In what proved to another brutal week for the monoline insurers, the financial guaranty and credit (re)insurance specialist Assured Guaranty Ltd (AGL) took a $302.9mn after-tax unrealised mark-to-market loss...

The US state of Massachusetts has issued subpoenas to ailing financial guaranty insurers Ambac Financial Group and MBIA Inc seeking disclosure on their exposure to sub-prime investments.

Phil Moyles has joined the legions of ex-MMC executives at private equity firm, Stone Point Capital.

Troubled XL Capital's downgrade to A by both AM Best and Fitch Ratings late last week would limit its competitive position, particularly in US casualty business, analysts have warned.

Bermudians Arch Capital and RenaissanceRe Holdings have emerged as the companies courting Lloyd's insurer Heritage Underwriting Agency, according to sources.