June 2009/4

RAA: $58bn in US premium ceded offshore in 2008; AWAC launches side 'A' D&O excess product; Ace enters $500mn LOC agreement with Deutsche Bank; Heath Lambert gains two new clients

Donald MacDonald, the deputy managing director of Willis' UK reinsurance unit, has resigned, The Insurance Insider can reveal.

Texas Governor Rick Perry has signed into law a bill (HB 4409) for restructuring the state's windstorm insurance fund, the Texas Windstorm Insurance Association (TWIA), and axing its $1.5bn reinsurance programme.

Endurance announces promotions; THB swipes Guy Carpenter exec for Zurich office; Clyde & Co expands into life market with new team; SBJ picks up two from Aon Benfield...

After 2008's bleak investment conditions, Flagstone Re has piled out of equity investments and now has 34.5 percent of its portfolio invested in US Treasury Inflation-Protected Securities, or TIPs...

The US Supreme Court has reinstated an approximate $500mn settlement in an asbestos lawsuit against US insurance giant The Travelers Casualty Companies (Travelers).

UK outsourcing giant Capita is set to appoint Edward Creasy, chairman of Tokio Marine subsidiary Kiln plc, to the board of its insurance services arm as a non-executive director, The Insurance Insider can reveal.

Aon has confirmed that UK CEO Peter Harmer is set to return to Australia at the end of September...

President Barack Obama's far-reaching proposals to overhaul US financial regulation were given a cautious welcome by interest groups anxious to avoid formal federal oversight of the sector.

London market (re)insurance broker Cooper Gay (Holdings) Ltd has taken a decisive step towards its ambition of a public listing with the imminent arrival of two City heavyweights that have recently stepped down from Benfield Group.

Pact to speed claims settlements reached; Crawford relaunches UK claims solution brand; Risking it all?; XL adds to UK employers' liability product...

Ratings agency Fitch has downgraded its Insurer Financial Strength ratings for Brit Insurance Holdings' principle insurance subsidiary - Brit Insurance Ltd (BIL) - to 'A' from 'A+'.