Legal
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Arch Capital backed hedge fund carrier’s outlook graded “stable”.
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The jurisdiction remains on the grey list, pending work on collective investment funds.
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Jonathan Evans, a former insurance lawyer, will take over after Lord Hunt steps down in December.
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Jim Beck is accused of reaping $2mn in illegal proceeds through a fraud involving the Georgia Underwriting Association.
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The firm has announced a first-quarter net loss of $37mn bringing common equity down to just $120mn.
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The ratings agency has urged ILS fund managers and reinsurers to improve their levels of pricing differentiation.
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The Bermuda group’s underwriting loss expands more than ninefold to $42.6mn.
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A verdict in the poaching trial is a minimum of three months away after closing statements completed. -
Gavin Mansfield QC says the defence case in the poaching dispute “does not stack up”.
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David Craig QC insists the departing executives were not a “team”.
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Marsh & McLennan Companies is suing 13 of its former staff for breaching the terms of their contract and other issues.
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An appeal court sides with the state insurance regulator over a 2015 sanction.
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