November 2008/2

Royal Bank of Scotland’s insurance assets – which include Direct Line, Churchill, Privilege and the specialty insurer NIG – may now fetch less than £4.5bn, as private equity firm CVC enters into advanced talks with the bank...

Despite widespread proclamation of a market changing event, the evidence remains mixed...

Carpet-baggers and pre-emptions…

ARC forms ICA group; R&Q wins double

Resolute Management Ltd, Berkshire Hathaway’s operation for managing its discontinued London market lines, will now be led by Steve Michael, The Insurance Insider can reveal.

The New York insurance authorities are again considering selling the insolvent Midland Insurance Company in a bid to improve the returns available to policyholders.

Bermudian-headquartered run-off specialist Enstar Group Ltd has fought off heavy competition and fears of wilting capital providers to win the race to buy Unionamerica Holdings Ltd, the discontinued UK-based operations...

Scottish Lion Insurance Company, the UK insurer in run-off that used to be run by AXIS Capital founder John Charman, is again looking to crystallise its liabilities via a scheme of arrangement.

The “implosion” of 296 sub-prime mortgage lenders in relation to the credit crisis has led to 418 sub-prime and credit crisis-related lawsuits, including 124 securities class actions lawsuits (SCAS) filed to date...

Christopher Droney, the federal judge who oversaw the trial of five former General Re and American International Group (AIG) executives, has ruled that their conspiracy led to huge losses for investors.

October was set to be the busiest month of the year for secondary trading of cat bonds, in part fuelled by hedge funds being forced to de-leverage amidst the financial turmoil.

Global broker Marsh has taken a $33mn charge in its Q3 2008 results after losing a legal dispute emanating from a political risk placement it made on behalf of US west coast energy group, Sempra to cover 1990s investments in Argentina.