November 2010/2

Run-off consolidators face tough challenges in finding growth opportunities as the low interest-rate environment continues, the legal head of consolidator Tawa Management told AIRROC delegates in New Jersey.

Legacy (re)insurer Grafton completed a transfer for UK supermarket firm WM Morrison's captive run-off liabilities understood to be in the "tens of millions".

Legacy (re)insurers whose traditional sources of revenue are drying up while liabilities shrink in the UK are looking further afield, run-off industry rainmakers heard last month in New Jersey.

Legacy specialist RiverStone is set to reinsure-to-close the open years of Syndicate 376, one of the largest remaining syndicates in run-off in the Lloyd's market, The Insurance Insider can reveal.

The Florida regulator has continued to ease barriers to foreign reinsurers, with the Bermuda operation of Lloyd's (re)insurer Hiscox the latest to secure a cut in its collateral requirements to 20 percent.

Ron Sandler rejected approaches from Lloyd's to take over from Lord Levene of Portsoken before events at nationalised UK bank Northern Rock effectively removed him from the running.

Ri3K's founding CEO Alex Letts has stepped down upon the firm's sale to fellow (re)insurance technology platform Qatarlyst.

US P&C rates continue to fall in soft market; Berkshire lukewarm on cat; Ambac files for Chapter 11; QBE underwriting chief; Marine follows Bender

Reinsurers weigh up UK motor quota share; QBE reinsurance rejig; Pensions shadow Miller; Lancashire picks Whelan; Russia with Lloyd's

Two senior broking executives have left Cooper Gay and Colemont Global Group as the organisations readjust following their mergers with US-based wholesale brokers.

Aon's out-of-court settlement of its "laptop in the pond" poaching dispute with Marsh ended the prospect of another acrimonious and protracted legal wrangle

London market brokers Tysers and Lonmar Global Risks are counting the days until a UK court verdict on a £2.5mn poaching case.