March 2008/5

JPMorgan Chase & Co came back in with a significantly higher $10 a share offer for beleaguered rival Bear Stearns yesterday in a package that will also leave it more exposed to potential losses from the investment bank.

Leading insurance linked securities (ILS) investor and co-founder of Fermat Capital Management John Seo has warned that a "reputational storm is definitely brewing" over the sector, over the lack of transparency, disclosure and...

Chubb insures the primary layer of the Marsh-placed $75mn directors' and officers' (D&O) programme for beleaguered investment bank Bear Stearns, our sister title The Insurance Insider revealed last week.

Bermudian firm ACE Ltd is moving its holding company from the Cayman Islands to Zurich, Switzerland.

A spate of losses has resulted in space insurers targeting premium increases of up to 30 percent, according to broker Aon in its latest report on the sector.

Legislation to scale back the Florida Hurricane Catastrophe Fund (FHCF) has been unanimously passed in the state's Senate Banking and Insurance Committee.

Clive Briault, managing director of retail business at the Financial Services Authority (FSA), has left the UK regulator as part of a reshuffle following the Northern Rock crisis.

Markel International has promoted Jeremy Brazil to active underwriter of its Lloyd’s Syndicate 3000.

Bermuda-headquartered Lloyd's (re)insurer Hiscox Ltd has teamed up with brokers Allison & Partners (A&P) to launch INSPIRE, providing specialist cover targeted at specialising in UK and European small to medium-sized businesses (SME).

UK insurer Brit Insurance Holdings has established an underwriting presence in Northern Ireland that will focus on fleet motor and property & combined package lines.

Class action pioneer Melvyn Weiss will plead guilty to making improper payments to clients in a kickback scheme, according to his lawyer.

Richard Scruggs, the lawyer who successfully fought the tobacco companies in a series of class actions, is facing disbarment from the Mississippi Bar Association after pleading guilty to bribing a judge.