July 2011/4

As reinsurers continue to report loss creep in estimates from Q1 earthquakes in Japan and New Zealand, there was a timely reminder last week of just how long the tail from such events can be.

Brown & Brown settles poaching suit; Fitch affirms Lloyd's rating; NZ local government insurer downgraded; Lloyd's affirms NZ loss estimates; Ariel and DaVinci join Florida list.

Gallagher International - the London subsidiary of serial consolidator AJ Gallagher - has underscored its position as the most acquisitive player in the London broking market by securing an exclusive right to buy 2004 start-up Oxygen.

French reinsurer Scor has noted signs of rate increases spreading from property cat business to non-cat exposed accounts and from loss-affected to non-loss affected geographies.

Principals at Greenhill & Co LLC by now know not to make summer vacation plans. In the last three years the New York-headquartered investment-banking firm has twice been invited along by Validus, as the Bermudian reinsurer crashes the wedding of two of its peers.

US insurers are facing a raft of claim notifications on News Corporation's multi-million dollar directors' and officers' (D&O) programme, as the media multinational continues to face the fall-out from the phone hacking scandal.