June 2010/1

Pru walks (reluctantly); AIG subprime pain lingers; Cash Byrne; Endurance end; Quinn queue; Worman's progress; Watsa punt...

Oz grief; Canopius closes in; Walsham sale; Omega recruits; Chaucer's tale; Lloyd's East...

KPMG scrutinises FirstCity contracts; Alea sees improvements in MBS book

One of the largest gatherings of the UK and international P&C legacy market takes place this month with the R&Q commutations Rendez-Vous in Norwich, UK.

UK regulator the Financial Services Authority (FSA) has upped its budget by almost 10 percent to £454.7mn for the next financial year.

Broking houses in the UK approach higher-risk business involving third parties "far too informally", according to the Financial Services Authority (FSA).

The new UK chancellor George Osborne has hinted that the coalition government would not dampen the Conservatives' commitment to review a tax policy paper prepared by The Insurance Insider's London 100 group.

US Senate approval of the Democrats' sweeping Wall Street regulatory reform bill has all but cemented the creation of an Office of National Insurance (ONI) within the Treasury.

Kingsway Financial Services (KFS) returned to the black in the first quarter, despite a net operating loss and its combined ratio ballooning by 30.4 percentage points from a year earlier to 136.2 percent.

Swiss Re and six Lloyd's syndicates have been named as defendants in a US lawsuit over alleged non-payment of claims, in which diamond wholesaler Lazare Kaplan (LKI) is seeking $640mn in damages.

Disgraced financier Allen Stanford has written personally to the US judge presiding over the Stanford Financial Group (SFG) directors' and officers' (D&O) dispute to ask to be allowed his own choice of counsel.

US wholesaler CRC Insurance Services has moved its legal fight over 120+ staff that defected to new rival Ryan Specialty Group (RSG) last month to the Chicago courts.