October 2008/2

Aon Ltd, the UK operation of the Chicago-based global broking giant, has agreed a deal to buy niche trade broker Supercover Holdings Ltd, as it continues to snap up specialist firms to boost distribution.

A fundamental disagreement over the issue of mandatory commission disclosure lies at the heart of last week's decision by the London Market Insurance Brokers' Committee (LMBC) to break away from the British Insurance Brokers' Association (BIBA) and form a

Speakers at the Isle of Man Captive Conference last week (10 October) expressed cautious optimism about the future of captives in the face of the current financial turmoil.

A financial report from Atlas partners LLP has alluded to factors that point to the end of the soft market.

The latest reported Hurricane Ike loss estimates have revealed continued industry pessimism about the eventual bill to be paid from the September storms.

WR Berkley has hired an American International Group (AIG) financial institutions duo, The Insurance Insider understands.

Global stock indices rebounded from their spiralling falls last week on news of a central bank co-ordinated rescue plan to provide emergency funding to countries hit by the credit crunch.

Troubled Australian insurer Insurance Australia Group (IAG) is continuing to seek potential buyers for its Singapore-focussed Lloyd's operation Alba, with AMTrust and Asia Capital Reinsurance Group (ACR) thought to have expressed an interest in the platfo

Expansive Lloyd's insurer Hardy Underwriting Bermuda Ltd has hired a five-strong team from HSBC that will bring renewal rights to a portfolio of high net worth property business.

Bermudian-headquartered run-off specialist Enstar Group Ltd has announced that its wholly-owned subsidiary, Royston Run-Off Ltd, has won the race to buy Unionamerica Holdings Ltd, the discontinued UK-based operations of Travelers for $343.4mn.

Shares in Swiss Re and XL Capital rebounded today after a week when the legacy of expansion out of traditional (re)insurance into areas worst impacted by the credit crisis decimated shareholdings in the companies.

The global stock market crash has caused Yamato Life insurance, Japan's nearly century old insurer, to file for bankruptcy last week with Yen 269.5bn ($2.7bn) of liabilities.