October 2007/4

After spending more than two years behind bars after pleading guilty to offences that helped bring down Australian insurer HIH, Rodney Adler has been freed from prison.

Bermudian reinsurer Aspen Insurance Holdings Limited is to launch a global excess casualty underwriting unit based in Dublin.

Swiss Re run-off subsidiary, Pro Insurance Solutions Ltd has announced the formation of a US affiliate, PRO US, in a move which highlights the growing interest in the country’s discontinued business sector.

Two members of Bermudian energy mutual Oil Insurance Limited (OIL) have decided to “withdraw their policies” from January next year.

Bermudian start-up insurer Ironshore Inc has appointed former Lloyd’s CEO Ron Sandler to its board.

Florida’s chief financial officer has proposed giving the state’s governor and cabinet the authority to set the reinsurance levels and pricing of the Florida Hurricane Catastrophe Fund’s optional coverages.

US property/casualty insurers are expected to pay homeowners and businesses an estimated $1.125bn for third-quarter property losses, according to preliminary analysis by ISO’s Property Claim Services (PCS) unit.

Steven Schulman has become the second former Milberg Weiss LLP partner to plead guilty in a long-running federal probe into the making of improper payments to clients in an alleged kickback scheme.

The Association of Insurance and Reinsurance Run-Off Companies’ (AIRROC) third annual Rendez-Vous began today (15 October) in New Jersey with a record number of delegates in attendance.

Connecticut attorney general Richard Blumenthal has vowed to draw back the “cloak of secrecy” covering the “entire reinsurance industry” following the filing of an anti-trust lawsuit last week against global reinsurance broker Guy Carpenter.

Ratings agency Standard & Poor’s (S&P) has upgraded French insurer Groupama’s financial strength rating to A+ with stable outlook in response to the group’s increased operating performance, strong brand and its “readiness” to launch an initial public offe

AJ Gallagher International’s (AJGI) new onshore/offshore energy and utility broking subsidiary is set begin operations in the New Year.