November 2007/2

The 21-day time limit in which the three former Independent Insurance Group plc (IIG) executives who received a total of 14 years in jail sentences could lodge an appeal will expire on 13 November.

Marsh Ltd will be forced to defend itself on charges of poaching a senior aviation team and confidential business information from United Insurance Brokers (UIB) in a trial scheduled to take place next summer.

A US judge who ruled in favour of Gen Re in its dispute with Arch Capital Group over the poaching of a thirty strong facultative team declared that trade secrets can be stored in one's memory.

Bank of Ireland Life has securitised EUR400mn of value-in-force (VIF) life insurance policies in the first rated European VIF transaction for almost three years.

European giants Swiss Re and Munich Re outstripped analysts' earnings forecasts for the third quarter, with both companies on course to surpass expectations for full-year profits.

Sub-prime woes continued at American International Group (AIG), as it reported third quarter operating results below analysts' expectations, compounded by a $352mn pre-tax charge on credit default swaps...

Investors reacted positively to the latest restructuring by Aon that will lead to the loss of 2,700 jobs, the equivalent of 6 percent of its global workforce.

The imminent renewal of the flagship Lufthansa account looks set to underline the soft conditions in the airline market with underwriters apparently set to accept greater exposures for effectively a similar rate as last year.

Harbor Point secures A rating for $500mn US platform; Bermuda facing December General Election; Expansive MAPFRE in $2.2bn US push; Ironshore gains admitted status; New York drives collateral relief for non-US reinsurers...

Run-off insurer Highlands Insurance Company (UK) Ltd went into insolvent administration at the High Court on 1 November.

Lloyd's own run-off arm Centrewrite has joined the queue of capacity prepared to offer reinsurance-to-close (RITC) quotes for "open year" syndicates.

London-based law firm Kendall Freeman has been looking for a partner for some time and so seasoned watchers were not surprised by its proposed tie-up with the US firm Edwards Angell Palmer & Dodge LLP (EAPD)...