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Willis sues former employee for Lockton defection
Willis is suing former employee Kevin Cummings, alleging that the executive broke the terms of his employment contract and other agreements after he quit his position and joined rival broker Lockton. The suit was filed in the New York State Supreme Court on 22 September.
04 October 2011
After the M&A storm comes the calm
With five Lloyd's deals done already this year and another one (eventually) drawing closer, the M&A market may now cool in coming months as the obvious sellers thin out
04 October 2011
S&P in SEC’s crosshairs over CDO ratings
The Securities and Exchange Commission (SEC) is considering sanctioning Standard & Poor's (S&P) for allegedly violating federal securities laws, according to regulatory filings...
04 October 2011
Lloyd’s sticks to 2013 guns
Lloyd's is still keen to press on and begin implementing the Solvency II regime from 2013, despite the concessions expected from European policymakers to smooth the transition for the laggards within the market.
04 October 2011
NFIP: One extension down, two more to go
Meanwhile, US lawmakers temporarily averted yet another lapse of the National Flood Insurance Program (NFIP) after the US House of Representatives agreed a one-week extension for the indebted progamme.
04 October 2011
EU lawmakers converge on 2014 for SII start date
Full implementation of Solvency II looks increasingly likely to be delayed until 2014 after the European Council released an updated version of the Omnibus II directive...
04 October 2011
Lloyd’s slams US government intervention
The US government is too interventionist in the insurance markets, hindering the country's ability to bounce back from catastrophic events and dumping unnecessary expense on the taxpayer, according to Lloyd's.
04 October 2011
FSA probes unrated Icelandic insurer Eric
The UK Financial Services Authority (FSA) is scrutinising the Icelandic firm European Risk Insurance Company (Eric), The Insurance Insider understands.
04 October 2011
Omega shareholders divided over competing suitors’ charms
Some investor frustrations are in evidence as the sales process finally comes to a head
04 October 2011
TR nibs
US Re moves; Guy Carp hire
04 October 2011
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