October 2007/2

Although Lloyd’s expects sub-prime related claims to be a fraction of the liability losses that hit the market as a result of Enron, WorldCom, laddering, and other corporate scandals of the early noughties...

EU hints on intervention; Bermuda’s Maiden reinsurer poised for $500mn+ IPO; Court dismisses major US RICO suit; AmWINS withdraws IPO; Ariel Re buys US admitted carrier...

EU highlights conflict of interest in broker model; Long-term contracts can be anti-competitive...

JLT linked with FirstCity; Rivals 'seriously worried' after Towergate buys IT provider; Solicitors PI rates slide; Lightyear backs £135mn start-up Antares syndicate...

MMC effectively ruled out the immediate elevation of executive Phil Moyles as the next leader of its broking business, Marsh Inc, with a reshuffle of its senior executives last week.

As the official 2007 Atlantic hurricane season enters its final two months, speculation continues to mount over potential M&A activity, with players in the Bermudian (re)insurance market at its centre.

Despite the gloomy spectre of a soft market, Lloyd's 2007 interim results reflected the strong performance of insurers underwriting in the market.

As reinsurance brokers and underwriters await the end of a so far sterile hurricane season to start serious negotiations over 1/1 renewals, warning signs of growing momentum behind the softening market continue.

Illinois-based sports underwriter Pro Financial Services Inc was sold last month for $73mn - the equivalent of over seven times "base" earnings.

The legacy of workers' compensation carve-out reinsurance - epitomised by the Unicover pool which collapsed in 1999 - re-emerged when CNA Financial Corporation agreed to pay John Hancock $250mn...

Jonathan Thomas, the former underwriter of personal accident (PA) specialist Syndicate 1607, has joined the Munich Re backed Watkins Syndicate.

In a move that carries on the trend of multi-national companies relocating within Europe, US insurer Chubb Corp is to redomicile its European holding company from Brussels to London.