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  • Lloyd's insurer SVB Holdings plc confirmed last week a scheme of arrangement to ring-fence past liabilities, with the creation of a new holding company Novae Group plc, and formation of an FSA-regulated insurer capitalised by proceeds from a £110mn...
  • Average premium rates for US terrorism insurance declined by 12 percent in 2009 despite an increase in take-up rates, according to Marsh.
  • Independent London market (re)insurance broker Thomson Heath and Bond Group (THB) saw fees and commissions rise 5 percent in the first half of 2010 to £24.6mn, fuelled by organic growth and a stronger US dollar.
  • Gallagher Global Risks is set to bolster its international property team with the addition of Benfield broker Brian Fuller. Fuller will join Gallagher as director of international property and will be based in London.
  • Quoted Lloyd’s insurer Heritage Underwriting Agency can merge its two trading syndicates despite the opposition of members’ agency Hampden Agencies Ltd.
  • It seems that legislation to bring in an asbestos trust fund to compensate victims and end expensive lawsuits will stay log-jammed in the Senate after insurers refused to compromise on the contributions they would have to make.
  • The Microinsurance Innovation Facility of the International Labour Organization (ILO) has received its largest ever number of applications to support microinsurance projects in its fourth round of grants.
  • Fallen insurance giant American International Group has unveiled a staggering $24.47bn third quarter net loss on the day it announced a $150bn revamped bail-out package with the US government it says is a “dramatic step forward for AIG and all of its stak
  • AXA has launched a further EUR450mn securitisation of its motor portfolio today, following its innovative EUR200mn FCC Sparc transaction 18 months ago.
  • Dear friend, A quick explanation – and the repayment of a debt of honour for the inspiration for IQ summer 2009's front cover.