November 2007/5

Bermudian reinsurer Montpelier Re Holdings Ltd has extended the employment contract of its founding chairman and chief executive Tony Taylor until 2009, it confirmed last week.

Aon Re Global Fac is to launch a dedicated residual value insurance division.

Brit Insurance Holdings PLC has renewed its binding authority agreement with Augsburg Re.

For the second time this year wildfires have forced thousands of Californians to evacuate their homes.

Lloyd's insurers Beazley Group plc and Hiscox Ltd disclosed moderate share buybacks last week, continuing the trend in the (re)insurance sector for the repatriation of capital to shareholders.

A New York-based hedge fund has hit back at Canadian conglomerate Fairfax Financial Holdings with a counterclaim accusing the firm of defamation and a campaign of harassment and intimidation.

Gallagher London became the latest firm to levy an additional commission on the market as the weak dollar and falling rates continue to squeeze brokers' margins.

Tawa plc, the UK quoted run-off consolidator controlled by French billionaire Francois Pinault, has launched Tawa Consulting Ltd, which will take on consulting and advisory operations.

Directors' and officers' (D&O) rates are predicted to fall by a further 10 percent in the final quarter of the year, according to a survey by broker Willis Group.

Non-life insurers should escape the global credit crunch but not contagion from a possible economic stagnation or recession, according to research from Morgan Stanley.

Swiss Re's share price continued to fall this morning after losing almost 15 percent of their value last week following the firm's shock SFr1.2bn ($1.1bn) mark-to-market loss from credit default swap exposures.

Quoted Lloyd's insurer Novae Group plc is set to open a bloodstock account next year following the capture of a Brit Insurance underwriter.