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...

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.

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...

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...

Hannover Re will open a non-life branch in Shanghai, after receiving regulatory approval earlier this month.

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).

Ratings agency Standard & Poor’s (S&P) has highlighted concerns over life settlement securitisations (LSS).