October 2007/5

US insurance giant The Chubb Corporation has received approval from the Chinese authorities to turn its Federal Insurance Company from a Shanghai branch to a wholly owned insurance subsidiary.

Major UK retail bank Lloyds TSB Group plc has been sued in the US for allegedly violating federal anti-money laundering provisions, a case which could be brought as a claim against its Directors and Officers (D&O) insurance policy, placed in the London ma

French reinsurer SCOR has reaffirmed reporting lines and made a flurry of fresh appointments to its non-life and life segments.

Yorkshire-based consolidator Broker Network Group has received a takeover approach which "may or may not lead to an offer being made for the company", according to a recent London Stock Exchange announcement.

Broking giant Aon Corp is being sued by a long-term client, Caterpillar Inc on charges of fraud and anti-competitive behaviour.

The third annual Rendez-Vous of the Association of Insurance and Reinsurance Run-Off Companies' (AIRROC) last week proved a perfect time to look back at how a number of recent transactions have benefited the sector.

Lehman Bros has been given the green light by the Financial Services Authority to begin trading at its subsidiary Libero Ventures Ltd - a new unit that aims to improve capital efficiency for (re)insurers by shifting exposures to the capital markets.

After decades of lobbying from the international (re)insurance community, one US state is spearheading new regulation that would remove collateral requirements for the highest rated foreign and non-New York reinsurers.

UK (re)insurance giant Royal & Sun Alliance (R&SA) has announced that it is to acquire Canadian property casualty insurer Canadian Northern Shield Insurance Company (CNS), in a C$75mn (£37mn) cash deal.

Bermudian energy mutual Oil Insurance Limited is co-suing the US government over the flooding of a refinery during Hurricane Katrina.

Guy Carpenter is likely to file a motion to dismiss the lawsuit launched earlier this month by Connecticut attorney general Richard Blumenthal that has accused the broker of violating the state’s anti-trust and unfair trade practices acts...

New market entrants are "critical to maintaining the attractiveness of the Lloyd’s market", according to the Society's Franchise Performance director, Rolf Tolle.