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  • The fine art insurance market has been spared a potential EUR100mn mega-loss after the audacious theft of five masterpieces from the Museum of Modern Art in Paris on 19 May.
  • The German financial regulator has banned naked short selling of stocks in key financial services companies including Munich Re and Hannover Re, as concerns rise over the stability of the Eurozone.
  • The European Union has expressed strong opposition to "anti-competitive" Washington tax proposals, which it says could result in non-domestic operators withdrawing from the US reinsurance market.
  • Hampden Underwriting swung to a pre-tax profit of £985,000 in 2009 from a loss of £85,000 a year earlier, as it shrugged off start-up costs and began to enjoy positive cash flow from its acquisition of 2006 and 2007 year underwriting capacity.
  • Lloyd's insurer Chaucer has forecast a "significant increase" in offshore energy rates and flagged up hardening conditions in aviation and catastrophe-exposed property markets.
  • UK-based legacy player Compre Holdings has set up a service company in Switzerland after agreeing to manage Alea's remaining European run-off.
  • Bermuda-domiciled (re)insurer Omega Insurance Holdings has continued to recruit new directors by appointing three non-executives to its Lloyd's agency arm.
  • The China Insurance Regulatory Commission (CIRC) has granted Lloyd's China a licence to write direct insurance, in addition to its existing reinsurance licence.
  • No criminal charges will be filed against the senior executives that ran AIG Financial Products (AIG FP) into the ground and racked up tens of billions of losses, it has emerged.
  • There is a 30 percent chance that a weather system currently over the Atlantic will become the first named storm of the season in the next 48 hours, according to forecasters from the US National Hurricane Center.