June 2008/4

French reinsurer SCOR has revealed that it will be launching its Americas "hub" in New York where it aims to serve North and South America, including Central America, the Caribbean and Mexico.

US insurer Assurant Inc has announced the completion of its catastrophe reinsurance programme for 2008 and, with rates falling, was able to buy additional cover.

Captive operations owned by financial institutions are less likely to take out reinsurance than those belonging to other sector groups, according to a report by Marsh.

German reinsurer Hannover Re has reached an "exclusive agreement" with Indian reinsurer GIC Re to develop and underwrite life reinsurance business in India, the group has announced.

Aon Corp's Middle East division has opened a regional headquarters in the Dubai International Finance Centre (DIFC), after being granted a license to operate within the DIFC.

Insurers face a greater threat from weak pricing than from the credit crisis in the months ahead, according to Swiss Re.

Around three-quarters of London market insurers believe they will underestimate the impact of rate softening, according to a report from Ernst & Young (E&Y).

Previous contracts are likely to play an increasingly large role in legal cases following a precedent-setting case involving a policy taken out by Standard Life, say insurance law experts Ince & Co.

The Financial Services Authority (FSA) has said it is willing to mandate action on the disclosure of broker's commissions by the end of the year if the industry fails to find a solution to the issue.

Hannover Re's new dedicated insurance linked securities (ILS) team has closed $133mn Globe Re - choosing an innovative deal as its first since launching in January.

Risk modelling firm Risk Management Solutions (RMS) aims to boost investment in the insurance linked securities (ILS) market with an electronic ILS portfolio management platform.

The Bermuda Monetary Authority (BMA) is proposing a reclassification of Class 3 (re)insurers into sub-classes because of the increasingly broad range of carriers attracted to the island.