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  • The insurance industry should start preparing for a market turning event in order to take full advantage when it comes, according to Jeffrey Greenberg, chairman of private equity firm Aquiline Holdings.
  • Lloyd's (re)insurer Beazley Group is contemplating a $50mn capital return as it looks to shore up its position with investors after its £185mn takeover approach for smaller rival Hardy Underwriting collapsed
  • London-listed broker Jardine Lloyd Thompson (JLT) has denied market rumours surrounding an abortive deal to place reinsurance cover for Italian airline Meridiana.
  • Rod Fox has teamed up with his former EW Blanch colleague Ted Blanch to launch a "private boutique" reinsurance broker to compete on large account business with Benfield, Guy Carpenter and Aon.
  • AmTrust Europe has parted company with its most senior actuary Sukie Harrar, The Insurance Insider can reveal.
  • Fittingly, on the day Guy Carpenter and Amlin announced the completion of the London market’s first paperless claim (see story 18), Lloyd’s CEO Richard Ward reaffirmed his commitment to seeing all claims transacted electronically by the end of 2007.
  • Leading brokers Marsh and Aon have highlighted concerns over a rapidly softening UK professional indemnity (PI) market.
  • Berkshire deposits $5bn with Bank of America; Japanese big three survive sovereign downgrade; Special vehicles boost Bermuda start-up numbers in H1; Willis develops nuclear business interruption cover; Travelers London reshuffles marine team; Argo expands its surety capacity in the US
  • Munich Re warned its first quarter 2008 profits are likely to be down on last year's, following "major losses" in the first three months of the year.
  • Transatlantic Holdings and Aspen Insurance Holdings reported record third quarter profits, with Everest Re also booking a dramatic swing in fortunes...