July 2009/4

A new legal suit alleges that Willis Group produced personalised "safety and comfort" letters at the request of Stanford International Bank (SIB) that were sent to large investors in SIB's certificates of deposit.

UK insurer Hiscox Group has had its A insurer financial strength ratings affirmed by Fitch, along with the BBB+ debt ratings of its holding company, with a stable outlook.

Hannover Re's proposed European windstorm catastrophe bond, Eurus II, has upsized to EUR150mn, with indicative pricing in the low end of the range at EURIBOR plus 675 basis points.

Jubilee Managing Agency has named Andreas Loucaides as CEO, just nine months after the former Catlin executive joined the expansive Lloyd’s insurer as chief underwriting officer.

JLT appoints new information chief; CCV unveils new CEO

Beazley plc has launched the Lloyd's interim reporting season with a fall in pre-tax profits from £45.0mn in the first half of 2008 to £20.1mn, as the expected unwind of last year's foreign exchange gains hit the bottom line.

A major report on the competitiveness of the UK insurance industry has not called for a reduction in the tax burden, despite acknowledging that firms are relocating offshore.

The so-called 2005 Spitzer agreements may have only one more year to go, but they have already been significantly overhauled.

WSI lowers 2009 hurricane forecast; Max subsidiary wins US approval; Miller launches Asia Pacific fac unit; Willis appointed for Hong Kong train link; Lloyd's opens Irish office

The strength of the Lloyd's market has received another ratings agency endorsement, with an affirmation from Fitch that reflects its resilience and capital strength.

The world's largest reinsurer, Munich Re, continues to be seen as a strong performer by ratings agencies and equity analysts as it prepares to unveil its second quarter results next week (4 August).

Around 270 jobs have been cut from The Hartford Financial Services Group’s investment products division in recent weeks, as the US insurer continues to suffer at the hands of its variable annuity (VA) business.