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  • Ratings agency Moody's Investors Services said it would be assessing the impact on the credit profiles of FGIC Corp and MBIA Insurance Corporation following their $184bn reinsurance coverage deal.
  • In common with many (re)insurers, Brit Insurance Holdings plc saw its 2008 interim profits suffer as a result of unrealised losses on its investment portfolio, partly offset by reserve releases and a foreign exchange profit.
  • UK insurer Liverpool Victoria Insurance Company Ltd (LV) has emerged as the bidder for UK motor insurer Highway Insurance Group plc.
  • Hurricane Gustav caused a flurry of trading on the Insurance Futures Exchange Services (IFEX) last week as a tropical storm, with $13mn of catastrophe derivative contracts traded as the storm gathered speed en route to the Gulf.
  • William Stovin has been appointed as president and COO of Markel Corporation's London subsidiary Markel International, replacing US-bound Gerry Albanese.
  • Canadian (re)insurance conglomerate Fairfax Financial Holdings has declared its 165p a share cash offer for Lloyd’s (re)insurer Advent Capital Holdings Plc unconditional after securing a controlling interest in the company, as the Advent board reiterated
  • UK insurer Liverpool Victoria Insurance Company Ltd (LV) has emerged as the bidder for UK motor insurer Highway Insurance Group plc.
  • Lloyd's insurer Chaucer Holdings plc reported a slump in half-year profits as it was hit by the double whammy of heavy claims and difficult investment conditions.
  • Swiss-domiciled reinsurer Paris Re Holdings Limited has announced improved results for the first half of 2008, with net income up by around a third to $150.6mn despite taking a $14.2mn hit from Windstorm Emma.
  • Highway Insurance Group plc has confirmed that it is in "advanced discussions with a third party" about a potential takeover after shares in the motor insurer surged this morning amid M&A speculation.