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  • Gerova Financial Group has gained approval for its life and annuity reinsurance business, Gerova Reinsurance, to start underwriting in Bermuda.
  • Hardy Underwriting is set to become the latest Lloyd's (re)insurer to underwrite through the Society's Singapore-based Asia platform.
  • State Farm, one of the biggest participants in the US National Flood Insurance Program (NFIP), has said it is to stop writing policies under the federal plan, which has become caught in the legislative cogs of Capitol Hill.
  • Niche UK private equity investor BP Marsh has gone into partnership with Randall Goss-led wholesaler US Risk Insurance through a significant investment in its Lloyd's broking house.
  • Fears that broker Marsh would indirectly suffer as a result of a legal settlement by fellow Marsh & McLennan Companies (MMC) subsidiary Mercer have receded after the payout was limited to $500mn.
  • Three separate moves by (re)insurers on both sides of the Atlantic last week have highlighted the sector's continued focus on returning surplus capital to shareholders.
  • The World Cup is finally underway - and the stress the modern game now places on players is also raising anxiety levels among underwriters in the niche personal accident market.
  • The overall claims cost to political risk underwriters of the global financial crisis so far is approaching $2.5bn, according to Bermuda-headquartered (re)insurer Aspen.
  • (Re)insurer Aspen has become the latest company to declare a loss relating to Deepwater Horizon, with its estimate in the region of $15mn-$25mn.
  • Industry declared losses in relation to the Chile earthquake have now reached $6.5bn, after Swiss Re became the latest (re)insurer to up its loss estimate with a new figure of around $630mn.