March 2008/2

UK takaful start-up finally poised for launch; Amlin: Holt will return; S&P boosts Novae over mooted legacy spin-off; Omega maintains profit record; Marine in Aon job cuts spotlight...

Buffett goes long on derivatives; Fairfax profits from credit bets; DIFC extends international attractions; AM Best stable on reinsurance; IRS captives tax u-turn...

Our monthly column keeping a check on recent US and EU legislative and regulatory developments, in association with Sidley Austin LLP

A significant reduction in the UK's run-off market has driven a EUR2bn decrease across Europe, according to a recent survey.

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.

RSA has sold Guildhall Insurance Company to Enstar Group in a move that continues the group’s disposal of its legacy business.

Listed Bermudian run-off firm Enstar Group Ltd reported a drop in its full-year profits last year despite increasing its assets by over 30 percent.

Allianz Global Corporate and Specialty (AGCS) has set up a Global Discontinued Business division to handle its vast legacy liabilities, The Insurance Insider has learnt.

Bermudian-headquartered run-off company Alea Group Holdings' has reported deterioration in its reserves of around $30mn, largely relating to its North American reinsurance portfolio, in its 2007 results.

In an important ruling, the UK’s Court of Appeal has overturned last year's decision in the "follow the settlement" case between reinsurers WASA International Insurance Company Ltd (WASA) and AGF Insurance Ltd against...

Benfield has lost part of the prized Amlin reinsurance account to rivals Aon and Guy Carpenter, The Insurance Insider understands.

The UK broking sector is set for further M&A activity after consolidator Giles Insurance Brokers Ltd was handed a £500mn acquisition fund following private equity fund Charterhouse Capital Partners' buyout of the firm.