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  • Former Torus leading light Jon Sullivan is to become the new head of the property treaty reinsurance division at Brit Insurance.
  • A federal appeals court has ruled that MBIA Inc should be awarded $30mn under the terms of its directors' and officers' cover for costs accrued during federal and state regulator investigations
  • The Port Authority of New York can be sued for negligence for the collapse of one of the World Trade Center buildings, a US appeal court ruled
  • The publication of the FCA guidelines came as Moody's announced that the details outlined so far on the prudential aspect of the new UK regime will be considered "ratings positive"
  • Texan lawmakers have finally agreed legislation on reforming the Texas Windstorm Insurance Association before a special session of congress expired
  • The Senate Banking Committee heard further arguments for overhauling the National Flood Insurance Program, with pressure building to reform the indebted programme before its scheduled lapse on 30 September
  • RenaissanceRe affiliate DaVinci Re suffered $152.9mn of net cat losses in the first quarter, turning in a combined ratio of 246.3 percent, according to Moody's
  • French reinsurer Scor has issued EUR75mn of new shares as its contingent capital deal with investment bank UBS triggered on rising first-quarter catastrophe loss estimates
  • The Intercontinental Exchange began delisting Ifex catastrophe-linked derivatives this month
  • Australian insurer Suncorp and Japanese co-operative Zenkyoren are widely thought to be two of the largest international (non-US) cat excess of loss (XoL) treaties in the market, with over $13bn of net limit between them