October 2009/3

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

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.

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...

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.

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.

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.

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...

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...

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.

The community of former UK-domiciled specialty insurance operations now headquartered overseas face years of meticulous close scrutiny of their business affairs by UK tax authorities...

Hardy Underwriting Bermuda Limited has launched a reinsurance joint venture based in Bahrain in equal partnership with Arab Insurance Group (Arig).