March 2008/1

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.

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.

Standard & Poor's (S&P) has put a positive outlook on UK insurer Novae's Lloyd's Syndicate 2007 in the expectation that its legacy issues will see further resolution in 2008, through the run-off or sale of the affected business.

Robert Hiscox, a former deputy chairman of Lloyd's and one of the most strident voices in EC3, has called the reduction of only 2 percent in the Society's capacity for 2008 "disappointing".

Warren Buffett, the chairman and CEO of Berkshire Hathaway Inc, has warned insurers that the party is over and tougher times lie ahead regardless of what the weather does this year.

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...

The appointment of Peter Zaffino as CEO and Britt Newhouse as chairman at Guy Carpenter marks a statement of intent by Brian Duperreault as he seeks to gather his senior lieutenants around him in New York...

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.

XL Capital added to fourth quarter losses arising from its relationship with troubled bond insurer Security Capital Assurance (SCA) in a Securities & Exchange Commission (SEC) filing after close of markets Friday (29 February).