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  • Insured losses from windstorm Friedhelm, which struck parts of Scotland and northern England last week, will likely have insured losses in the low hundreds of millions of pounds and will probably not hit reinsurance treaties, according to global reinsurance broker Willis Re.
  • The European Parliament has pushed back a vote on the final rules for the crucial Omnibus II directive until April 2012, meaning insurers may face a further four months without additional clarity on some technical details of the new Solvency II regime.
  • Expansive global specialty insurer Torus is to establish itself in the US and international surety market through the acquisition of First Sealord, a Pennsylvania based surety company licensed in 38 states.
  • Giant European insurance group Generali has seen its insurer financial strength rating slashed three notches to A- from AA- by rating agency Fitch due to its heavy exposure to the Eurozone debt crisis.
  • The entire executive board of UK retail broker Swinton Group has been dismissed and replaced with immediate effect.
  • Thompson Heath & Bond (THB) - the UK-listed broker that is soon to become part of US wholesale group AmWINS - has lured across Aon Benfield's London-based North American facultative team, The Insurance Insider can reveal.
  • International (re)insurance trade body, the International Underwriting Association (IUA) has established a new London market group for companies writing business both North and South America.
  • Willis has become the latest of the big three global insurance brokers to embrace a technological management information platform to enhance its global placing operations and revenues, with the launch of Willplace.
  • QWB Group, a joint venture company formed by run-off acquirer Quest Group and the remaining management team of reinsurance broker Walsham Brothers, has purchased the broker's share capital after receiving regulatory approval.
  • Lloyd's takeover target Omega has issued a robust denial that its capital position has materially weakened