May 2008/4

Bermudian-headquartered reinsurer PartnerRe Ltd is to issue $250mn in a bid to repay debt.

French reinsurer SCOR has announced details and the launch of its London "hub".

US insurer The Travelers Cos Inc has said that a "fine tuning" of its projected investment income should see operating earnings at the lower end of previous forecasts this year.

Lloyd's insurer Heritage Underwriting Agency plc, which was acquired by Bermudian Argo International Group earlier this year, has maintained its previous forecasts on its Lloyd's syndicates.

Shrugging off a number of downbeat trading statements from rival Lloyd's insurers, Omega Insurance Holdings Ltd said last week that it is confident about its 2008 performance following a strong quarter.

A Florida pension fund is suing American International Group (AIG) accusing it of making misleading statements about the company's finances.

The private equity backed run-off insurers Seaton Insurance Co and Stonewall Insurance Co have appealed against a decision earlier this month in a New York court which prevents them from pursuing a claim against a Randall & Quilter (R&Q) affiliate in the

Ratings agency Standard & Poor's (S&P) has hit beleaguered Bermudian life reinsurer Scottish Re with a four notch downgrade sinking the firm deep into junk territory.

Negotiations surrounding the sale of Heath Lambert's wholesale division to Cooper Gay were delivered another blow last week after it emerged that a major unit in the transfer will no longer be a part of the proposed deal.

"Class of 2005" reinsurer Flagstone Reinsurance Holdings and Swiss headquartered reinsurer Glacier Re have cat bonds totalling $300mn in the capital market awaiting pricing, The Insurance Insider can reveal.

Aon Re Global has named Jan-Oliver Thofern as the new head of its German reinsurance arm, Aon Ruck.

The recent devastating earthquake in China's Sichuan province will cost the country's insurers a mere $43mn, according to the China Insurance Regulatory Commission (CIRC).