July 2007/1

Net income after taxes for the US property and casualty insurance industry fell by 5.5 percent to $15.8bn in the first quarter 2007, compared to the same period in 2006...

Karel Van Hulle, head of insurance and pensions unit at the European Commission and responsible for the preparation of the Solvency II directive, has said the deadline for implementation of the directive will be pushed back by two years to 2012.

AIM-listed Lloyd's insurer Heritage Underwriting Agency plc has bolstered its ranks with the hire of international general liability underwriter Mark Aaron from ACE.

Guy Carpenter has swooped for Chris Klein, the chairman of rival Benfield Group's counterparty risk unit.

Flagstone Reinsurance Holdings has further bolstered its underwriting operations with a $100mn issue of debt.

The British Insurance Brokers' Association (BIBA) has criticised the Financial Services Authority's (FSA) long awaited consultation paper proposing amendments to its Insurance Conduct of Business (ICOB) rules.

Proceeds from Paris Re's forthcoming IPO will be used to reduce its retro spend and strengthen share capital at its Swiss operating subsidiary.

Former American International Group (AIG) supremo Maurice "Hank" Greenberg has countersued his former employer for the second time in as many weeks in an attempt to recover profits...

Andrew Goodsell, the former Merrett underwriter, will receive £104mn from the merger of the AA and Saga to create a £6bn motoring and insurance giant.

Jacques Aigrain, CEO of reinsurance giant Swiss Re described insurance linked securitisations (ILS) as a “major revolution in how we perform in the market”...