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Kingsway to shed a further unit
Troubled Canadian insurer Kingsway Financial Services (KFS) is to sell its specialist US motor insurer Mendota Insurance Company, as part of its asset disposal programme and a re-focusing on profitable lines of business.
21 June 2010
Liability concerns spell opportunity for London financial lines
The London market has a "huge opportunity" to make itself the market of choice for the liability programmes of major corporates and financial institutions, according to a senior Marsh executive.
21 June 2010
Aon Benfield highlights mega-earthquake hotspots
The Caribbean, the west coast of North America, Chile, Indonesia and Japan are the areas most at risk from mega-earthquakes of magnitude 8+, according to research by Aon Benfield.
21 June 2010
Stanford’s lawyers accused of insurance fraud
The US judge presiding over Allen Stanford's criminal case has ordered that sealed documents alleging that his lawyers engaged in insurance fraud be released to London underwriters embroiled in a separate coverage dispute.
21 June 2010
AJ Gallagher completes June hat trick with US retail acquisition
Expansive broker AJ Gallagher has completed a hat-trick of June purchases with the acquisition of regional US retail insurance broker Bowen, Miclette, Britt & Merry (BMBM) of Arkansas.
21 June 2010
UK premium tax to ‘at least double’
The UK insurance industry will closely monitor tomorrow's emergency budget amid growing expectation that Chancellor of the Exchequer George Osborne will boost government coffers by hiking the rate of insurance premium tax.
21 June 2010
Market cautious on debt-heavy Cooper Gay merger
Following its merger with US wholesaler Swett & Crawford, the new Cooper Gay must surmount a series of obstacles if it is to list - not least a debt-laden balance sheet, according to market sources.
21 June 2010
Soft market is different this time, insurance chiefs say
The current soft market may not follow the same pattern of previous underwriting cycles, a panel of senior industry executives told the Association of Insurance and Risk Managers (Airmic) conference last week.
21 June 2010
Total Florida hurricane exposure hits $2.5tn
State-owned insurers in Florida have hurricane exposures upwards of $2.5tn, according to a recent report produced by the research arm of the US Congress.
21 June 2010
FSA changes spark industry cost fears
Plans to reorganise the regulation and supervision of UK financial services announced last week have met with a defensive reaction from UK insurance trade bodies eager to avoid additional cost burdens.
21 June 2010
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