June 2009/4

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

Spanish state-funded national catastrophe and terrorism fund the Consorcio de Compensación de Seguros (CCS) and Spain’s insurance trade body, Unespa, have signed a reinsurance agreement...

Last week's move by Swiss Re to sell its US asset management arm Conning & Co to Jeff Greenberg-run private equity firm Aquiline Capital Partners LLC should help increase its capital buffer.

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

On 24 June, the UK High Court will be asked to approve the historic Part VII transfer of all Equitas' remaining liabilities - now comprising some $7.8bn – in a deal which could finally allow Lloyd's Names to "sleep easily at night".

The schedule of the already delayed Equitas v Brandywine LMX spiral clash in the UK High Court suffered a further setback last week, after expert underwriting witnesses failed to give evidence for undisclosed reasons.

The on-off takeover saga of Lloyd's insurer Chaucer took a decisive step forward today with a formal, all-paper offer by rival Brit Insurance this morning, but its modest terms has provoked Russian-backed private equity firm Pamplona Capital...

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

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+'.

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.

Offshore domicile Guernsey has seen a significant increase in enquiries relating to setting up captive and insurance cell operations in the last three months, chief executive of Guernsey Finance Peter Niven told The Insurance Insider.

Former Gen Re executive John Houldsworth was handed two years' probation and ordered to pay a $5,000 fine but was spared a custodial sentence for his role in a fraudulent $500mn reinsurance deal...