November 2009/5

The specialist space/satellite market is likely to see rates fall to earth in 2010 after another profitable underwriting year, according to Aon's International Space Brokers.

The industry's catastrophe losses from both natural and man-made disasters have more than halved to $24bn this year, according to Swiss Re's research unit Sigma.

Six (re)insurers appear alongside 24 banks on a list of global institutions that pose a systemic risk to the financial system and require cross-border supervision.

The litigation surrounding attempts by Stanford executives to tap their Lloyd's directors' and officers' (D&O) policies to fund their defence is continuing to grow.

Two key cases will see appeals launched in the first week of December under the watchful eyes of the legacy industry.

Capacity trading in the fourth and final 2010 capacity auction for Omega-managed Syndicate 958 was brisk as Names looked to take up Omega's corporate member's capacity buyout offer.

HCC Insurance Holdings has received approval to merge its Lloyd's syndicates 4040 and 4141 for the 2010 year of account, after buying out the remaining external names earlier this year.

London financial institutions (FI) insurers have asked a US court to rule that primary and excess professional indemnity policies issued to Fiserv do not provide coverage for the insured against class actions from the Madoff debacle.

The sale of German state-owned run-off group BF Rückversicherung has taken a further twist following news that the joint bid by GLOBAL Rück and Randall & Quilter (R&Q) is no longer being actively considered, The Insurance Insider can reveal.

The cat bond market has continued its rebound after the closure of Swiss Re's $75mn extreme mortality bond, Vita Capital IV, took total issuance this year to $2.2bn, while Scor launched Atlas VI.

Despite (re)insurers' enthusiasm for writing structured debt insurance, the industry has been swift to deny the prospect of widespread losses emerging from the Dubai debt crisis.

Marsh will enter into a long-term strategic distribution deal with HSBC as part of its agreement to buy the banking giant's insurance broking arm.