June 2009/5

(Re)insurers are facing the possibility of a property and business interruption loss after last week's train crash on the Washington Metro, in a programme placed by Aon, The Insurance Insider's sister publication Inside FAC reports.

Economic consultant NERA has found that the volume of credit crisis-related litigation exploded by 172 percent in 2008...

Despite greater transparency following the damaging sub-prime-related securities ratings withdrawals last year, Standard & Poor's (S&P) managing director of Germany Torsten Hinrichs, conceded "no model is clear of conflicts of interest".

French composite insurer Groupama SA has had its insurer financial strength and long-term counterparty credit ratings cut by Standard & Poor's (S&P) from A+ to A on "weakened capital".

American International Group (AIG) has revealed that it has obtained permission from the US authorities to position its top two international life insurance franchises for initial public offerings.

The International Association of Insurance Supervisors (IAIS) took a step forward in its attempts to strengthen co-ordination between international insurance regulatory bodies at the close of its triannual meeting...

Equitas, the legacy albatross that has hung around the neck of Lloyd's Names ever since its creation in 1996, can now be formally detached after the UK High Court approved the transfer to a new company, Equitas Insurance Ltd, on 25 June.

After Florida insurers got an easier-than-expected ride during the 1 June renewal season, thanks to "adequate capacity" from the traditional and non-traditional reinsurance markets, the key 1 July renewal date for US business looks set to be similar.

Bermudian (re)insurer Validus Holdings has said that IPC Holdings shareholders representing approximately 54 percent of total shares support acquisition by Validus, and that it has sent requisitions from the shareholders to IPC.

Lloyd's and Bermuda (re)insurer Omega Insurance Holding's offer for up to 50 percent of the 2010 capacity on its Lloyd's Syndicate 958, set to close on Thursday (2 July) has been relatively well received by members' agents and analysts alike.