October 2009/1

Despite the uncertainty thrown up by the Scottish Lion ruling, administrator PricewaterhouseCoopers is pushing ahead with the proposed solvent scheme of arrangement for Minster Insurance Company.

The scheme of arrangement for insolvent UK insurer Folksam that was first recommended in 2002 is set to be formerly proposed to creditors "within weeks", The Insurance Insider understands.

The Bermuda Monetary Authority (BMA) is enhancing insurance regulation in a push to become the ILS jurisdiction of choice.

Dan Ozizmir, convergence market rainmaker and former Swiss Re Capital Markets (SRCM) head, has joined the judging panel for the Trading Risk Awards 2010.

Swiss Re has launched a three-year $250mn Mexican wind and earthquake cat bond, as first predicted by our sister publication Trading Risk.

Industry loss warranty (ILW) buyers are returning to the market after a very quiet trading season, seeking cheap stopgap cover for the remainder of 2009, according to broker-dealers.

Fast expanding insurer Torus has taken Simon Urry from Markel International as senior casualty underwriter in its London offshore energy team...

Ace Europe has extended its oil and gas industry policy to address a raft of new liability exposures facing offshore oil and gas contractors.

Mining conglomerate BHP Billiton - which experienced heavy losses in 2008, primarily as a result of flooding in Australia - has decided to self-insure for property and business interruption risks.

Expansive insurers Ironshore and CV Starr have continued to build out their platforms in the US.

Despite a benign year so far for hurricanes in the Gulf of Mexico (GOM), Bermudian energy mutual OIL Insurance Ltd has bowed to pressure from members by introducing substantial changes to its windstorm programme.

Lloyd's declared pre-tax profits for the market of £1,322mn for the first half of 2009, up 39 percent on the previous year.