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  • Global insurer Zurich Financial Services (ZFS) unveiled plans to cut costs last week as part of a bold drive to slash 3-4 percent off the combined ratio of its non-life operations.
  • The body responsible for regulating the UK solicitors' professional indemnity (PI) market is proposing a radical overhaul that would include abolishing the single date annual renewal.
  • Despite balance sheet strength, Bermudians are facing a raft of challenges that will lead to disparities in companies' financial performance over the next 12-18 months, AM Best has warned.
  • The pleas of some of the more vocal members of the Lloyd's underwriting community for the drawbridge to be raised to new market entrants may not have fallen on deaf ears.
  • The body responsible for regulating the UK solicitors' professional indemnity (PI) market is proposing a radical overhaul that would include abolishing the single date annual renewal.
  • In a report which puts the catastrophe losses from European windstorms in the last three years at around EUR6.2bn, Aon Benfield has warned that bigger losses are possible due to increased exposure.
  • Listed Lloyd's (re)insurer Novae is set to return £32.9mn of capital to its shareholders, or 13.6 percent of its market capitalisation.
  • XL Insurance has promoted Bob Shine to head the underwriting of its North America property and casualty (P&C) business.
  • Acquisitive broker Arthur J Gallagher & Co (AJG) has continued to build out its retail business with a deal to buy Premier Risk Services.
  • Broker Marsh has launched a new platform to offer multinational companies up to $100mn of cover per risk for foreign-based assets or equipment in transit, which it says will allow companies to pursue opportunities overseas against a background of rising political risk.