January 2010/3

Lloyd's of London will come under pressure from the US government in the first half of 2010 to stop insuring Iranian oil imports, according to an expert on the region.

There is no consistency of approach from listed London market firms on determining bonus pools, research from Collins Stewart has revealed.

Nick Cook, CEO of Willis subsidiary Glencairn, has resigned from the London market broker, The Insurance Insider revealed last week.

The historically high level of reserve releases that have been boosting insurers' profit margins since 2003 are set to come to an end, according to research carried out by Deloitte.

Sluggish UK commercial rates are finally hardening, according to quoted Lloyd's (re)insurers Amlin and Brit Insurance.

A tranche of Munich Re's $150mn Carillon Ltd US wind cat bond has become the latest of a quartet of Lehman Brothers-affected insurance-linked securitisations (ILS) to default.

US insurer Hartford Fire Insurance Co has launched $100mn Foundation Re III – its third transaction in the Foundation series and the first insurance-linked security (ILS) of 2010.

The most serious risk facing the world today is of a succession of fiscal crises caused by the fallout from the global financial collapse, according to Global Risks 2010.

The Lloyd's underwriters that insured Stanford Financial Group's D&O and professional indemnity policies were last week asked to forward a further $2.6mn to pay defence costs while they wait for a US judge to rule on their liability.

Private equity-backed Antares Syndicate 1274 has received approval from both Lloyd's and the FSA to establish Antares Managing Agency Limited (AMAL) – a move first revealed by The Insurance Insider.

Aspen reshuffled its senior management roles last week, with London veteran Rupert Villers promoted to CEO of the firm's insurance business.

UK property and casualty (P&C) insurers face escalating claims after an Edinburgh court upheld legislation that allows sufferers of pleural plaques in Scotland to be compensated, Moody's has warned.