June 2009/5

Independent London market (re)insurance broker BMS saw profits climb last year even though revenues fell slightly from £45.3mn to £42.6mn.

Actuarial and risk management firm Towers Perrin Forster & Crosby – the parent of the world’s fourth largest insurance broker – has agreed a merger with fellow professional services firm Watson Wyatt Worldwide.

The biggest risk to prospects of recovery from the recession and global economic slump is the potential for the global bond market to break down, according to Standard & Poor’s (S&P) chief European economist, Jean-Michael Six.

The growing popularity of quota share reinsurance as a form of underwriting capital was underscored with news that Bermudian (re)insurer Flagstone Re is the leader on the £50mn transaction that enables Lloyd's insurer Chaucer Holdings to...

This week the UK High Court is set to hear the closing arguments in the pivotal clash between Berkshire Hathaway-backed Equitas and Randall & Quilter (R&Q)-owned Brandywine.

The proposed Scottish Lion scheme of arrangement returns to court next month, in a hearing that will determine what impact a dissenting minority of policyholders may have on the initiative.

US insurer The Hartford Financial Services Group has closed the deal that sees it tap TARP (Temporary Asset Relief Program) US bailout funds to the tune of $3.4bn.

Fairfax Financial Holdings Ltd has been told by US regulator Securities and Exchange Commission (SEC) that its three-year long investigation into the firm is now closed and it will not recommend any enforcement action.

London market insurers writing liability cover for energy giant Sempra face a lower-than-expected payout, after the San Diego-based firm settled with homeowner insurers over liability for three California wildfires that devastated parts of the state.

CV Starr has tied up with Talbot Underwriting Ltd and QBE to launch a $75mn consortium to write US construction risks at Lloyd's.

Fitch changes RGA's outlook to negative; S&P goes negative on Gard; CIC takes over supervision of China Re

UK-quoted broker Thompson Heath Bond Group plc (THB) has pointed to sluggish insurance markets for a fall in the group's earnings at the six-month stage.