May 2008/1

Although it didn't reveal further significant impact from its relationship with troubled affiliate SCA, XL Capital Ltd reported a 49 percent drop in net income for the first quarter 2008 on the prior-year period, to $276.9mn, as investment losses bit.

A number of Bermudian (re)insurers provided evidence of the impact of unprecedented Q1 large risk losses on profits for the period.

The loss-struck satellite insurance sector is facing another claim with solar array problems on a Nigerian satellite, NIGCOMSAT-1.

The 1/5 renewal for Virgin will be a bellwether on the health of the airline market following signs earlier this year that rates had finally stopped falling.

But impact on softening rates not expected outside affected industry sectors

Principle Insurance Company Ltd is to launch as the first dedicated British takaful provider after receiving authorisation from the FSA.

Swiss Re shares slid more than 6 percent to SFr82.30 after the reinsurance giant continued to disappoint analysts with further structured credit losses that halved Q1 profits.

Bermudian run-off company Enstar and US investment firm accused of 'hatching scheme' to sell insurance companies

Ernst & Young is increasing its focus on (re)insurance run-off after launching a dedicated unit.

The UK High Court has set a 4 July date for scheme meetings for 82 companies involved in the EW Payne Underwriting Pools scheme of arrangement.

Three CNA subsidiaries are challenging the jury verdict that left them facing a multi-million payout to clean up the Fox River in Wisconsin.

There have now been 76 sub-prime/credit crisis related class action lawsuits as anecdotal evidence suggests the extent of the (re)insurance industry’s potential exposures may be getting worse.