June 2008/4

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.

Zurich Financial Services (ZFS) - the enduring frontrunner in the race to buy Royal Bank of Scotland's up-for-sale insurance businesses - overcame a significant hurdle last week when reports confirmed that the firm had its financing in place.

The purchase of failed UK listed (re)insurer GoshawK for £45.7mn ($90.3mn) by acquisitive Bermudian run-off specialist Enstar Group Ltd is the third significant acquisition by the firm this year.

A number of leading insurers are supporting an Association of Risk and Insurance Managers (AIRMIC) initiative to limit the potential use of a device that puts the policyholder on notice that the insurer may not accept liability for a particular claim...