October 2009/3

As the first of the Q3 financials begin to trickle through this week led by Platinum Underwriters on Wednesday, the expectation is for bumper profits from property casualty (re)insurers...

Despite reined in optimism over underwriting conditions next year, a quartet of new Lloyd's syndicates are set to join Nick Jones' Apollo Syndicate 1969 in time for 1/1 launch 2010 launch.

Italian insurance giant Generali's buy out of the 49.6 percent minority shareholding in its Alleanza Italian life insurance unit should produce tax savings of EUR40mn a year...

Matthew Elderfield, the current CEO of the Bermuda Monetary Authority (BMA), is to step down at the end of the year to take up the post of director of financial regulation at the Central Bank of Ireland.

Bermudian domiciled (re)insurer Axis Capital says it expects its third-quarter operating income to be impacted by an increase of approximately $136mn in the fair value liability of an indemnity derivative contract that is exposed to longevity risk.

The total liabilities of the UK non-life run-off market increased by approximately 30 percent to an estimated £37.4bn at the end of 2008...

Hong Kong-based investment company Primus Financial Holdings headed the consortium that won the battle to acquire American International Group (AIG)'s Taiwanese life insurance unit, Nan Shan, for $2.15bn.

Despite a moderate uptick in the number of securities lawsuits filed in the third quarter, the number of new suits related to the credit crisis fell sharply...

Box joins Marsh board; Miller boosts professional risks team with Heath Lambert hire; Colemont's Kath named president of NAPSLO; WR Berkley hires Re Iberia director to head up Spanish branch...

Dutch insurance giant Aegon has completed a capital management transaction...

Texas-based Southwest Insurance Partners Inc (SWIP) has completed a $20mn capital raise increasing its overall capitalisation to more than $115mn, The Insurance Insider can reveal.

While Beaufort and Beazley remain on course to launch special purpose syndicates (SPS) for 1.1, fellow Lloyd's insurers Hardy Underwriting and Ark Underwriting have shelved plans to establish new sidecar style vehicles for the 2010 year.