October 2009/3

Brit Insurance Holdings has embarked on a shake-up of its professional indemnity division which has led to the departure of its two most senior underwriters.

Tokio Millennium Re (TMR) is set to become the latest specialist Bermudian catastrophe reinsurer to diversify into new business lines at the 1.1 renewals, The Insurance Insider can reveal.

The International Association of Insurance Supervisors (IAIS) annual conference to be held this week (21-24 October) in Rio de Janeiro, Brazil will be taking ‘Insurance as a means of socioeconomic development’ as one of its key themes...

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.

Jardine Lloyd Thompson (JLT) has continued to lure senior Aon executives to bolster its Asian and aviation resources...

Guernsey reviewing corporate tax regime; Enstar completes Copenhagen acquisition; ING to transfer US reinsurance business to RGA...

State-backed Brazilian bank Banco do Brasil (BB) has announced it is in preliminary discussions with the Brazilian ministry of finance and the Brazilian federal government to allow it to buy a stake in IRB–Brasil Re (IRB).

The decision by a Scottish Court last week to prevent the proposed Scottish Lion solvent scheme of arrangement because of objections by some policyholders will be appealed, scheme adviser and partner at PricewaterhouseCoopers (PwC) Dan Schwarzmann has tol

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...

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.