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  • Citadel Risk Management acquired "substantially all" of broking group AJ Gallagher's US reinsurance run-off portfolio in a move which the run-off specialist described as an "opportunity to create a run-off sector for the reinsurance intermediary market".
  • Accountancy firm KPMG has seen a steady increase in the number of schemes of arrangement it advises - 102 to date - and has now outstripped rival PricewaterhouseCoopers (PwC), which currently manages 77 schemes, including members of underwriting pools.
  • The UK Court of Appeal has upheld a June 2008 High Court judgment that German insurance giant Allianz was entitled to payment from its reinsurer, Greece-based Aigaion Insurance, despite a vital clause...
  • French reinsurer SCOR is set to issue the first transaction to break the stalemate in the insurance linked securities (ILS) market, with a $200mn US wind and quake cat bond expected to close on 5 February.
  • CDS spreads widen on perceived weak (re)insurers. XL Capital, Hartford and Swiss Re all vulnerable, say investors...
  • Fairfax Financial's 2008 results – due on the 19 February – will be scrutinised even closer this year as the Canadian combine basks in the limelight of being one of the few institutions that has successfully capitalised on the market's turmoil.
  • Aspen Insurance Holdings' late renewal of the reinsurance programme for its financial institutions (FI) book is a sign of the uncertainty surrounding the sector's loss exposures to litigation from the credit crisis.
  • Costs of reinsuring the International Group of P&I Clubs (IG) captive Hydra will rise by around 11 percent for 2009, according to sources.
  • General Atlantic Partners, Investcorp, Hellman & Friedman and CVC-US are among the score of blue-chip private equity firms which have put their support behind Sharebridge Holdings, the new US intermediary...
  • Willis Group Holdings has launched a dedicated unit to co-ordinate global placement strategy in a move it says will both benefit clients and allow it to trade more profitability with insurance carriers.