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Willis wrote 'safety and comfort' letters to Stanford investors, alleges suit
A new legal suit alleges that Willis Group produced personalised "safety and comfort" letters at the request of Stanford International Bank (SIB) that were sent to large investors in SIB's certificates of deposit.
27 July 2009
Fitch also affirms 'resilient' Lloyd’s
The strength of the Lloyd's market has received another ratings agency endorsement, with an affirmation from Fitch that reflects its resilience and capital strength.
27 July 2009
Chubb raises 2010 forecast as Q2 profits beat expectations
US insurance giant Chubb raised its outlook for full-year earnings after its Q2 results beat Wall Street expectations.
27 July 2009
Landmark Lords decision due in Wasa Lexington dispute
The House of Lords is due to hand down its judgment on Thursday (30 July) in the long-running "follow the settlement" dispute between reinsurers Wasa International Insurance Company Ltd (Wasa) and AGF Insurance Ltd and their cedant Lexington Insurance Co.
27 July 2009
Hannover Re's European cat bond doubles in size
Hannover Re's proposed European windstorm catastrophe bond, Eurus II, has upsized to EUR150mn, with indicative pricing in the low end of the range at EURIBOR plus 675 basis points.
27 July 2009
UK report falls short of demanding (re)insurers tax cut
A major report on the competitiveness of the UK insurance industry has not called for a reduction in the tax burden, despite acknowledging that firms are relocating offshore.
27 July 2009
Unravelling the Spitzer settlements: Insider comment
The so-called 2005 Spitzer agreements may have only one more year to go, but they have already been significantly overhauled.
27 July 2009
UK report falls short of demanding (re)insurers tax cut
A major report on the competitiveness of the UK insurance industry has not called for a reduction in the tax burden, despite acknowledging that firms are relocating offshore.
27 July 2009
Low cat year sees earnings focus on reserve releases, investments and FX
With little in the way of underlying growth prospects or catastrophe losses to report, reserve releases and a partial reversal of investment losses are likely to dominate Q2 figures as the US and Bermudian earnings season begins in earnest this week.
27 July 2009
Hiscox affirmed, but FX gains and reserve releases to decline
UK insurer Hiscox Group has had its A insurer financial strength ratings affirmed by Fitch, along with the BBB+ debt ratings of its holding company, with a stable outlook.
27 July 2009
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