November 2007/5

The rules for Brazil's open reinsurance market are set to be published on 15 December, according to local sources.

American International Group (AIG) executives including CEO Martin Sullivan and CFO Steven Bensinger have been named in a suit filed by shareholders over the firm's handling of its exposure to the sub-prime crisis.

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

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.

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.

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.

Endurance Specialty Insurance Ltd was upgraded to A by AM Best last week, returning the Bermudian (re)insurer's ratings to their pre-Katrina level.

French reinsurer SCOR SA will add to its Atlas suite of cat bonds with the EUR160mn Atlas IV bond, which is due to close on 27 November.

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.