November 2007/5

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.

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

London-based electronic trading platform Ri3K is streamlining charges for its services in response to "market criticisms" over the firm's pricing structure.

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.

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.

Administrators of loss-hit Kamp Re 2005, Zurich Financial Services' (ZFS) catastrophe bond, have extended the original maturity date by a month, to 14 January 2008, pending a final determination of the loss amounts.

Underwriting discipline, capital management and improved prior-year syndicate forecasts were the dominant themes as Lloyd's (re)insurers reported trading updates last week.

Caribbean firm Sagicor Financial Corporation - which acquired Lloyd's insurer Gerling at Lloyd's and its Syndicate 1206 earlier this year - has announced a profit of Bd$136.7mn for the first nine months of the year...

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.

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.

Fitch Ratings has upgraded the insurer financial strength ratings of UK insurer Aviva plc's non-life firms to AA.