June 2008/5

The Philippine ferry that sank in the devastating Typhoon Fengshen with more than 800 people on board was covered in the local markets, according to reports.

Xchanging has hired Stewart McCulloch, the former CEO of Lockton International, as Implementation Director.

Canopius Group Ltd has announced the appointment of Stephen Hartwig as senior vice president and head of excess casualty to its Bermuda-based underwriting agency.

Benfield Group Ltd has appointed former RennaisanceRe president Bill Riker as a non-executive director.

Swiss Re has obtained $150mn protection against North Atlantic hurricane, European windstorm, Californian earthquake, Japanese earthquake and Japanese typhoon through collateralised risk obligation (CRO) Vega Capital Ltd, as predicted by...

Hawaiian governor Linda Lingle has signed a new law making the transfer of insurance-linked securities to the capital markets more efficient for captives.

Net income for the US property & casualty (P&C) insurance industry has almost halved in the first quarter of 2008 after heavy losses in underwriting results, according to the US P&C associations.

Deven Sharma, president of credit rating agency Standard & Poor's (S&P), has called for a co-ordinated approach by credit agencies to ensure there is greater global rating consistency.

Amlin plc remains one of the best property and casualty insurers, according to Keefe, Bruyette & Woods analyst Chris Hitchings, after the listed-Lloyd's insurer reassured investors that its catastrophe risk account remains in good shape.

Expansive Bermudian Ironshore Inc is close to sealing a deal with Chaucer plc to buy the Lloyd's insurer's Pembroke division, in a move first revealed by The Insurance Insider.

French reinsurer SCOR has unveiled the launch of its latest hub in Singapore to serve the Asia-Pacific region.

A US judge has dismissed several of the claims made by American International Group (AIG) in its attempt to wrest control of a block of its shares from its former CEO and chairman.