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  • 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.
  • Broker Marsh placed the insurance programme for the Air India Boeing 737-800 that crashed on Saturday (22 May), killing all but eight on board, The Insurance Insider understands.
  • Florida cat reinsurance rates are likely to fall back to 2008 levels at the key 1 June renewal date, with pricing projected to soften by 10-13 percent across most layers, fuelled by excess capacity.
  • Three cat bonds have closed in the last week taking the total 2010 issuance so far to $2bn, amid a late rush to place risk into the capital markets before the hurricane season.
  • The launch date of Long Bay Re - Catlin Group's $150mn sidecar due to IPO on AIM this week - has been delayed to next month, The Insurance Insider understands.
  • Broker Marsh placed the insurance programme for the Air India Boeing 737-800 that crashed on Saturday (22 May) and killed all but eight on board, The Insurance Insider understands.
  • 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.