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Utica signs asbestos deal with Berkshire Hathaway
Utica National Insurance Group has signed a reinsurance deal to transfer the bulk of its asbestos liabilities to Berkshire Hathaway's National Indemnity Company.
01 October 2012
Ace threatened with sanctions in poaching suit
Ace American has been threatened with possible sanctions if it fails to provide emails and other evidence necessary for a suit over alleged poaching and theft of trade secrets.
01 October 2012
FSOC readies final list of risky insurers
The US Financial Stability Oversight Council (FSOC) has reached the final stage of choosing which non-bank entities will be branded potentially risky to the financial system.
01 October 2012
New injunction against Arkley in Aon/Alliant poaching row
A New York court has issued a preliminary injunction against former Aon executive Peter Arkley, after he jumped ship with 60 other staff members to California-based rival Alliant last year.
01 October 2012
$200mn Kleen Energy subrogation suit thrown out
Ace American received a major setback last week in a $200mn subrogation suit against the contractors of the Kleen Energy gas and oil-fired plant that exploded in 2010.
01 October 2012
EU-US regulators start formally talking shop
A steering committee of six top EU and US insurance regulators has issued a draft report as part of a project to build EU and US regulatory dialogue and will hold two meetings in Brussels and Washington in mid-October.
01 October 2012
Savage: Lloyd’s almost 98% done on Solvency II
Lloyd's finance director Luke Savage has indicated that the Lloyd's market is nearing final preparation for Solvency II and said that on average the market is around 95 to 98 percent of the way to full compliance.
01 October 2012
UK chancellor briefed on industry’s anger over FSA
A UK government minister has been told that the attitude of the country's financial regulator is the greatest roadblock to attracting more overseas (re)insurance companies and business into the London market.
01 October 2012
Hopes for greater longevity risk transfer volume
Key shifts in the longevity market have set the scene for more deals in the capital markets, according to panellists at an insurance-linked securities (ILS) conference held by Standard & Poor's (S&P) in London last week.
01 October 2012
Top Layer Re’s Japanese quake losses hit $365mn
RenaissanceRe's Top Layer Re took total claims of $412.5mn from the New Zealand and Japanese earthquakes in 2011, confirming the permanent sidecar's participation at the top of the 935bn yen ($12.01bn) Zenkyoren stack.
01 October 2012
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