October 2007/6

HSBC Insurance has launched a Dublin-based reinsurer to accept risks from the parent company's banking customers.

Bermuda-based Lloyd's insurer Hiscox Ltd will replace its $360mn sidecar Panther Re with a Lloyd's special purpose syndicate next year.

Insurance specialists Edwards Angell Palmer & Dodge LLP (EAPD) and London-based Kendall Freeman are understood to be considering a merger, Insider Week understands.

The money collected by PricewaterhouseCoopers (PwC), the administrators of the defunct UK insurer Folksam UK, outweighs the collections made on behalf of creditors by almost £2.5mn, the latest report to creditors reveals.

An Australian court has been told of the culture of "bravado and extravagance" at failed Australian insurance company HIH.

Rating agency Standard & Poor's (S&P) has revised its outlook on Fairfax Financial Holdings Ltd (FFH) and its subsidiaries to stable from negative citing the Canadian group’s improving enterprise risk management.