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  • UK insurer RSA has raised £500mn of subordinated debt to bolster its financial flexibility ahead of any call on its EUR500mn subordinated guaranteed bonds. A spokesperson said that RSA has the right to buy back its debt in October 2009 but cannot confirm
  • Every time you put a gallon of petrol in your car, it has typically been bought and sold forty times beforehand.
  • Rates for national US property-catastrophe reinsurance programmes rose by between 10 and 14 percent on a risk-adjusted basis at 1 April renewals, continuing the hardening trend seen in January’s renewals for catastrophe-exposed lines, according to broker
  • Aon unveils UK energy unit; Sagicor starts life at Lloyd's with Cassidy Davis hire; RSA acquires Irish Underwriter; Glacier opens new Swiss office; LPL expands into Caribbean.
  • Earlier in the day, Lloyd's CEO Nick Prettejohn had warned the audience of the market's need to change its behaviour in 2004 if it wished to avoid excessive swings in the cycle. He said 2004 was "a year of choice", in which insurers were "skirmishing w
  • Stirling Cooke Brown Insurance Brokers Ltd (SCB), the firm at the centre of the notorious personal accident LMX spiral of the late 1990s, was placed into liquidation on 20 January 2009.
  • Lloyd's messaging hub initiative will not lead to a substantial cost to market participants, according to the Corporation's director of market operations and North America Sue Langley.
  • The pain inflicted by Hurricanes Katrina and Rita is clearly reflected in the third quarter reporting of cat specialists Partner Re, PXRE and IPC Re, three of the island’s older guard of (re)insurers. Last week, the trio announced heavy losses for...
  • The Association of British Insurers (ABI) is demanding a complete reassessment of the UK's flood risk, and in particular surface water drainage (SWD), as part of the consultation process for the draft flood and water management bill released by the govern
  • Shares in US insurance giant, American International Group Inc (AIG), continued its rollercoaster ride on the New York Stock Exchange last week, twice plumbing the depths of new 52-week lows as investor unease mounted over the group's sub-prime...