May 2008/1

An improved merger bid for Insurance Australia Group (IAG) from QBE Insurance is likely to fall short of its own "fair value" of the business, the company has indicated.

A New York Federal court has dismissed fraudulent misconduct claims against Cavell USA Inc – an affiliate of Brandywine owner Randall & Quilter – and its chairman Ken Randall brought by US run-off insurers Seaton Insurance Company and Stonewall Insurance

Recently listed legacy specialist Randall & Quilter Investment Holdings plc (R&Q) has posted "record" operating profit of £8.7mn - up 68 percent on 2006 - in its first full year results since listing on the London Stock Exchange's (LSE) AIM market in Dece

Florida homeowner insurer HomeWise Insurance Co has issued a $260mn Florida wind-only cat bond just weeks before the start of the North Atlantic wind season on 1 June.

Marsh senior management pressurised its aviation department to use confidential information from rival intermediary United Insurance Brokers (UIB), a pre-trial hearing has been told.

Bermudian Argo Group International Holdings Ltd's 154p a share cash offer to buy Heritage Underwriting Agency plc has been declared unconditional.

Foreign exchange losses sent PARIS RE to a $129.5mn first quarter net loss under IFRS reporting, against a comparable prior-year period net profit of $35.7mn.

Property losses from the Chinese earthquake in Sichuan province could reach as much as $15bn but the insurance industry is likely to emerge relatively unscathed.

Brit Insurance Holdings Plc has appointed Jonathan Turner as active underwriter of Syndicate 2987.

Shares in American International Group (AIG) traded down to hover just above a 10-year low in after-hours trading yesterday as the US giant posted a record first quarter loss of $7.8bn triggered by another round of heavy mark-to-market credit derivative a

Allianz Group's first quarter results have been hit by a EUR845mn writedown at subsidiary Dresdner Bank following "difficult market conditions", the company has revealed.

Collins Stewart analyst Tim Young suggested a break-up of the RSA Group could be on the cards after it announced a 15 percent rise in group net written premiums to £1.7bn in the first quarter of 2008, compared to the prior-year period.