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  • A US court gave a green light last week for a class action lawsuit to proceed against the giant broker Aon over allegations that the firm breached its fiduciary duties by not disclosing hidden commissions.
  • Lloyd's has settled its £500mn Central Fund dispute with its six reinsurers, following the second phase of its arbitration tribunal, for a total of £152mn.
  • The Florida Department of Financial Services is seeking more than $20mn from Allianz and its Bermudian subsidiary Allianz Risk Transfer (ART) after alleging that the insurance group conspired to "loot" failed Floridian insurer Magnolia Insurance.
  • Although natural catastrophe losses remained relatively low, a spate of man-made claims blemished the underwriting performance of a handful of major reinsurers during the second quarter of 2014.
  • Takeover target Chaucer Holdings booked modest underwriting profits of just £6.7mn in 2010 as its combined ratio widened to 99 percent on the back of £85mn of cat losses
  • Excess capital is limiting growth opportunities in the reinsurance sector according to Jim Bryce, president and CEO of Bermudian reinsurer IPC Holdings.
  • Proceeds from Paris Re's forthcoming IPO will be used to reduce its retro spend and strengthen share capital at its Swiss operating subsidiary.
  • Heritage Underwriting Agency has forecast a loss for the full year with its net asset value per share dropping by 15 percent as a result. The group’s estimate for hurricanes Katrina, Rita and Wilma net losses on Syndicate 1245 is £3.7mn. This has...
  • On the face of it, an impasse has been reached in the Beazley-Hardy courtship.
  • Broker Marsh has received approval from the respective regulatory authorities to establish protected cell captive (PCC) insurance facilities in Washington and the Isle of Man.