March 2008/1

The Financial Services Authority (FSA) is reviewing claims handling in the UK run-off market but denies this reflects concerns about standards among some legacy insurers.

New York-based hedge fund Institutional Credit Partners (ICP) has been dismissed from Canadian conglomerate Fairfax Financial Holdings lawsuit against it and a number of other funds.

Although Swiss Re reported only modest deterioration on its credit default swaps (CDS) as it booked a 9 percent fall in 2007 net income to SFr4.2bn last week, its disclosures on credit market exposure and its recent quota share deal...

Microsoft has teamed up with six insurance IT firms in a bid to provide a "one-stop-shop" for the London market.

UK consolidator Towergate Partnership has acquired the private medical insurance (PMI) provider City & Suburban Health.

Swiss Re has devised a new business model, with the aim of being "the first place companies turn to for solutions", according to the firm's CEO Jacques Aigrain.

Prosecutors in the trial of former General Re and American International Group (AIG) executives found guilty in a sham finite reinsurance contract have vowed to continue investigations up the corporate ladder.

A further symptom of the impact of the sub-prime crisis has emerged, with the hardening of directors’ and officers’ (D&O) rates for financial institutions, according to new research.

Bermuda could be in line for an influx of financial guarantee reinsurers following the sub-prime mortgage crisis, according to The Bermuda Monetary Authority (BMA).

Losses from the global credit market crisis are set to top $600bn, with banks and brokers accounting for over half that figure, according to UBS analyst Geraud Charpin.

The UK's first dedicated insurance company providing takaful policies is set to be launched in a bid to tap into the UK's large Muslim population.

Shares in Australian (re)insurer QBE Group slumped after the company missed analyst profit estimates for 2007.