May 2008/1

Munich Re’s first quarter profits dipped 19 percent as it took a EUR578mn hit in its reinsurance division from the spate of major losses hitting the market in the period.

Marsh & McLennan Companies (MMC) has slipped to a $210mn first quarter net loss as a result of a $425mn goodwill writedown at its security consulting arm Kroll.

Insurance Australia Group (IAG) has been downgraded by Standard & Poor's (S&P) following a review of its risk profile, just days after receiving a renewed extension to QBE Insurance's merger offer.

Royal Palm changes hands; Offshore energy underwriter launches; PWS 'still under investigation...

Canopius down in March; Price Forbes in Bermuda launch; WR Berkley recruits Brit exec...

The UK Treasury published its consultation paper for the four amendments to be made to the Financial Services and Markets Act 2000 in order to allow Phase II of the landmark $7bn deal between Equitas and Berkshire Hathaway to proceed.

The two former Marsh Inc executives who were sentenced to jail time last month for their part in bid-rigging have had their sentences postponed pending their appeal.

GC Securities, Guy Carpenter & Co's specialist investment banking arm, is understood to be one of the areas affected by the firm’s widespread cost cutting with the expected closure of its newly formed M&A arm.

Naturally, RBS has indicated it would prefer to sell the insurance operations as a whole, but this could pose problems for potential buyers, not least the ability to raise sufficient funds and competition issues.

A mixed month for sidecars as Swiss Re renews while Dresdner Kleinwort withdraws

When IAG bought the Singapore-focussed, Lloyd's platform Alba from Whittington in 2006, The Insurance Insider observed what a tremendous deal it was for the outsourcing firm...

IAG looks increasingly vulnerable following earnings disappointment and with QBE's bid extended once more. Will anyone else join the hunt?