July 2008/1

Plummet is often an overused term but it fairly describes the share prices of many of the Lloyd's insurers which are continuing to endure a torrid time on the back of the weakening economic outlook...

Heritage Underwriting Agency plc - bought by Argonaut Group International Holdings earlier this year - has been hit by the sudden departure of a group of senior executives led by Nick Jones, who heads up its...

Atlanta-based Troutman Sanders is planning a move into the London insurance market following the firm's merger with US insurance boutique Ross Dixon & Bell.

Shares in XL Capital slumped to below $20 in early July as three of the four major rating agencies warned they may downgrade the Bermudian (re)insurer as a result of exposure to doomed bond insurer Security Capital Assurance (SCA).

Lloyd's close to appointing China chief; RBSI deadline extended; Hiscox mulls plans for new syndicate; RSA fires Fusion; AIRMIC delays claims index plans

Insurance Australia Group (IAG) will announce a major restructure on 9 July that is likely to see large chunks of its UK operations put up for sale.

Fears that the well of legacy transactions would run dry as tight credit conditions took hold appear unfounded, as the first half of 2008 yielded eight significant deals - maintaining the run-rate of the last two years.

The bond fraud case successfully brought by Markel International and QBE against executives of Surety Guarantee Consultants Ltd (SGC) and a former Templeton Insurance director has been referred to the City of London fraud squad.

The energy market, which saw the arrival of new capacity in the form of Ironshore-backed Anemos in May and First Reserve-backed Torus last month, is reeling following a depressing second quarter claims experience.

The "naming and shaming" of London brokers by the Market Reform Group (MRG) over their failure to adopt a key electronic initiative that could speed up the payment of premiums from brokers to (re)insurers appears to be working.

Novae Group is in talks with the Bermudian run-off firm Catalina Holdings and the Soros-backed Lloyd's reinsurer RITC Syndicate Management about acquiring the firm's legacy liabilities.

Broking giant Aon Corp is marketing a dedicated insurance linked securities (ILS) fund, following Amlin and Benfield into the $8-10bn ILS fund management sector, our sister publication Trading Risk revealed.