October 2009/3

Willis Group's reinsurance arm unveiled a series of management changes and a new organisational structure last week.

Last week, it was five years ago that the then New York Attorney-General Eliot Spitzer unleashed his snarling pit bull on the US P&C industry with his notorious bid-rigging/steering charges against MMC.

UK regulator the Financial Services Authority's (FSA) clarification of its approach to vetting senior appointments for regulated companies represents a considerable expansion of its powers...

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.

If the most effective way to tackle conflicts of interest is full and unvarnished disclosure then this appears to finally be the consensus among senior state insurance officials...

Munich Re's recent decision to reinstitute its share buyback programme to the tune of EUR1bn in "unneeded" capital could act as a catalyst for further returns...

Rating agency AM Best painted a lacklustre picture of the European non-life sector in 2010...

Overseas and emerging markets are forecast to continue to be important areas of growth for European (re)insurers in the coming years...

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...

Broker Willis Group has appointed former GCFac's Latin American operations, Hugh Powell, as CEO of Willis Facultative in Latin America...