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FSA warns lagging UK insurers over Solvency II
The Financial Services Authority (FSA) has fired a shot across the bows of UK-regulated insurance companies, warning that if they do not accelerate preparations for Solvency II they will not be ready by the current 2012 go-live date.
16 March 2010
Rating agencies hit with fresh Blumenthal complaint
The flurry of litigation against the rating agencies following the sub-prime meltdown continues unabated.
16 March 2010
Buffett rejected Lehman cash pleas in 2008
Warren Buffett declined requests from Lehman Brothers' management for support both shortly after Bear Stearns collapsed in March 2008 and then again in the run-up to the investment bank's fall in September of that year.
16 March 2010
Minster hearing to give new litmus test for UK schemes
Minster Insurance, the Audley Gilroy-owned firm's proposed solvent scheme of arrangement, tomorrow (16 March) will find out finally if it has the go-ahead in the UK High Court.
16 March 2010
Scottish Lion expenses dispute flares up
The controversial Scottish Lion solvent scheme of arrangement faces another hurdle before a date is fixed for its go-ahead hearing, following a dispute over the allocation of legal costs.
16 March 2010
GCFac loses Barnett to Aon Benfield
GCFac is understood to be losing the head of its London-based retro facultative operations, Gary Barnett, to rival Aon Benfield Fac, sister publication Inside FAC has revealed.
16 March 2010
London urged to focus on data protection regime
Firms cannot afford to be ignorant of data protection rules and information security issues given the harder line taken by UK and European Union regulators, lawyers have warned.
16 March 2010
MarketScout to launch wholesale broker; hires former Crump CEO
MarketScout is to set up a wholesale brokerage and managing general agent after securing the services of former Crump CEO Glenn Hargrove.
16 March 2010
(Re)insurers attack US federal cat bill
Lobby group the Association of Bermudian Insurers and Reinsurers (ABIR) has told the US House of Representatives that proposed subsidised federal reinsurance legislation is "not sound public policy".
16 March 2010
‘Extreme’ 2010 hurricane season forecast for US
The US may suffer an "extreme" hurricane season in 2010 after an exceptionally benign 2009, according to AccuWeather.com.
16 March 2010
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