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  • The EU is poised to move from being regulator to supervisor, as the European Commission launches legislation to create a pan-European insurance authority.
  • In a further test for solvent schemes of arrangement, the hearing for the English and American Underwriting (EAUA) Pools' leave to convene a meeting of creditors is scheduled to be held in the UK courts on 30 November 2009.
  • A significant reduction in the UK's run-off market has driven a EUR2bn decrease across Europe, according to a recent survey.
  • The money collected by PricewaterhouseCoopers (PwC), the administrators of the defunct UK insurer Folksam UK, outweighs the collections made on behalf of creditors by almost £2.5mn, the latest report to creditors reveals.
  • The legacy sector is eagerly awaiting news on Travelers’ decision over the sale of its UK-based long-tail run-off business, Unionamerica Insurance Company, which attracted a frenzy of potential buying interest over the summer.
  • Sovereign receives further $60mn; Highlands to scheme
  • R&Q makes Booth CFO; London avoids Iran crash; Numis Catco IPO gain; Quinn: Renewal rights only?
  • Scottish Lion Insurance Company, the UK insurer in run-off that used to be run by AXIS Capital founder John Charman, is again looking to crystallise its liabilities via a scheme of arrangement.
  • Covington & Burling (C&B), the US law firm that specialises in representing policyholders in proposed schemes of arrangement, has had its motion to launch a counter-appeal of the controversial Scottish Lion scheme dismissed.
  • Administrators PricewaterhouseCoopers (PwC) announced today a final payment of 76.75 percent to creditors under the Trinity Insurance Company Ltd scheme of arrangement.