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  • London managing general agency (MGA) Synergy Insurance Services has entered the high net worth (HNW) market with a product it says could cut premium layout for clients by up to 40 percent.
  • Speaking during a panel discussion at rating agency AM Best’s third annual European insurance ratings conference, Tony Brooke-Taylor of the Financial Services Authority (FSA) said that many internal capital management models (ICM) do not capture the full
  • The soon-to-be giant broking combine Aon Benfield Re has finalised the management structure for its analytics team, as it emerged last week that Benfield shareholders had voted 99.8 percent in favour of the union with Aon.
  • Ascot Underwriting founder Martin Reith has stepped down as its CEO just months after agreeing a deal with American International Group (AIG) for the Lloyd’s insurer to become a wholly owned subsidiary of the troubled US giant.
  • Swiss Re and private equity firm CVC are in “advanced talks” to buy a majority stake in Royal Bank of Scotland’s up-for-sale insurance operations, according to reports.
  • Troubled global insurer AIG is facing a tough squeeze on its aviation and US directors’ and officers’ liability (D&O) books of business, according to senior market sources.
  • Flagstone Reinsurance Holdings Ltd has become the eighth Bermudian to secure a Lloyd’s platform since the start of 2007 with an agreement to buy Marlborough Underwriting Agency Ltd from Berkshire Hathaway.
  • AM Best has downgraded Bermuda-based insurer XL Life reinsurance’s financial strength rating from A to A-, citing declining premium and capitalisation pressure as its parent, XL Capital Ltd winds down its business profile within life reinsurance.
  • WR Berkley confirmed the hire of a financial institutions (FI) team from American International Group (AIG), as previously revealed by The Insurance Insider.
  • Swiss (re)insurer Glacier Group has appointed Richard Etridge as CEO of its Leichtenstein headquartered insurance subsidiary.