October 2009/2

The trend of London market insurers fundraising through equity issuance looks set to continue, with the equity markets persisting as the "predominant source of new capital", according to the latest forecast from banking group Lloyds TSB.

The benign winds that characterised this year’s North Atlantic hurricane season could prove a double-edged sword.

A US district judge has ruled that Allen Stanford and other executives at the centre of charges relating to an alleged $7bn fraud may seek to tap into defence costs through a directors' and officers' (D&O) policy at Lloyd's.

The Financial Services Authority (FSA) is yet to break the silence over its assessment of Russian-backed private equity firm Pamplona Capital Management’s plans to build an influential 29.9 percent stake in Lloyd's insurer Chaucer.

At a lunch in the City last week, members of The Insurance Insider London One Hundred were treated to a devastating critique by a top UK financier of the parlous state of the UK government's finances.

Estimated insured losses from Typhoon Melor for onshore properties in Japan range from $850mn to $1.5bn, according to risk modelling firm AIR Worldwide.

Mutual insurers are increasing global market share, as the financial crisis and global recession has increased their attractiveness to customers compared to public company peers, according to a study by ratings agency AM Best.

Ahead of another key renewal date for the airline sector comes a further report that airline reinsurance prices are "generally rising" as underwriters digest a heavy loss year which is already fuelling significant primary rate increases.

The US run-off industry once again prepares for its annual migration to New Jersey as the fifth Association of Insurance and Reinsurance Run-Off Companies (AIRROC) event begins on the 19 October.

The UK Financial Services Authority (FSA) has shed light on its "more intrusive" regulatory regime for approving and supervising "persons performing significant influence functions" (SIFs).

The keenly awaited case management conference for the Scottish Lion scheme of arrangement due to take place today (12 October) has been delayed. The meeting is thought to have been rescheduled for Wednesday (14 October)

Asbestos-related mesothelioma claims are expected to peak in 2016, with claimants exposed to asbestos between the late 1960s and mid 1970s from a wider industrial base than previously assumed, according to a Marsh study.

HM Treasury has banned UK financial services companies from doing business with two Iranian companies, in a move that could see Lloyd's and London market (re)insurers pull cover.

Canadian Insurance combine Fairfax Financial Holdings (FFH) and its directors, including chairman and CEO Prem Watsa have been hit by a shareholder class action suit...

Barlow Lyde & Gilbert hires Part VII transfer specialist; DUAL Ireland opens doors with AIG hire; Gregory joins Axis as international specialty CEO; Taylor to serve as non-executive chairman of Montpelier Re...

Verisk Analytics - the holding company for the family of risk analysis and assessment firms that includes ISO and modelling firm AIR Worldwide - staged a successful initial public offering (IPO) of shares last week.

French reinsurer Scor has built out its presence in the Dutch life reinsurance market with the establishment of an office in the Netherlands through its subsidiary, Scor Global Life.

Ratings agency Fitch revised its outlook on PartnerRe to negative from stable last week, after the Bermudian acquired an 83 percent stake in Paris Re earlier in the month.

American International Group (AIG) is close to announcing the sale of its Taiwanese life assurance unit, according to reports, in what would be the largest deal to date in its asset shedding exercise to repay the US taxpayer.

Royal Bank of Scotland is again considering selling off its insurance operations...

Symetra - the former Safeco spin-off life and health insurer that counts White Mountains Insurance Group and Berkshire Hathaway among its major investors - has filed for a $575mn initial public offering (IPO).

Efforts to sell the non-life reinsurance portfolio of Berlin-based run-off group BF Rückversicherung have been revitalised.

World Trade Center developer Larry Silverstein has lost the latest round of his legal battle to collect $2.8bn in damages from airlines and security companies that he claims are partially responsible for the 11 September terrorist attacks.

AJ Gallagher's London operation confirmed it has hired the trade credit team that defected from former HCC-owned broker Rattner Mackenzie before the entity was sold to Guy Carpenter.