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  • Substantial prior-year reserve releases helped drag Bermudian reinsurer PartnerRe to a second quarter profit of $124.2mn despite a heavy cat toll and an upward adjustment in Q1 losses
  • Fetooh Al Zayani, the former managing director of insurance and reinsurance at Qatar Financial Centre (QFC), has joined risk and insurance advisory group Kane.
  • R&SA and Syndicate 45 sued by T&N; Hartford sued by Western MacArthur; and Chubb takes $625mn hit as claimants target non-product liability coverage.
  • Short-tail specialist Cathedral Underwriting has become the latest Lloyd's (re)insurer to rein in its 2010 expansion plans because market conditions are not as buoyant as initially expected.
  • The upcoming elections for Lloyd's governing body, the Council of Lloyd's, has provoked a bitter contest between candidates seeking to represent the interests of Lloyd's Names.
  • Lloyd's (re)insurer Novae has secured High Court approval to fold its UK insurance company business into Syndicate 2007, potentially releasing up to £60mn in under-deployed capital.
  • R-T Specialty, the wholesale arm of Pat Ryan's broking start-up, has made its first acquisition, picking up California-based wholesaler Chartwell Independent Insurance Brokers.
  • Lloyd's (re)insurer Novae has secured High Court approval to fold its UK insurance company business into Syndicate 2007, potentially releasing up to £60mn in under-deployed capital.
  • AmWINS and Ryan Specialty Group (RSG) agreed to pay Aon a minimum of 12.5 percent commission on wholesale business before being appointed as its exclusive US partners, The Insurance Insider can reveal.
  • The Federal Reserve's latest economic stimulus measures threaten to extend low interest rates and put further pressure on property and casualty insurers' profits, stockbroker Collins Stewart has warned.