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  • Lloyd's insurer Heritage Underwriting Agency plc is to add an international treaty team later this year headed by former Ascot underwriter James Braddock.
  • Shares in reinsurance intermediary Benfield Group fell 8 percent to 279p this morning following a profits warning, despite committing to an advanced capital repatriation strategy, before recovering by late afternoon to 298.5p.
  • London market insurers Brit Insurance and Chaucer have reserved £62.5mn and £62.7mn respectively for net losses resulting from combined financial crisis losses.
  • Bermudian (re)insurer PartnerRe has estimated natural catastrophes in the second quarter could cost the company up to $120mn.
  • Controversial film financier Flashpoint calls in administrators and admits to misusing insurers’ monies. S&P react with largest single downgrade of a European bond
  • Bermudian headquartered reinsurance group Endurance Specialty Holdings has bought out founding activist shareholder Perry Corp in a $321.5mn transaction.
  • Flagstone Re expects claims from the New Zealand earthquake of $52.5mn net of reinstatement premiums and retrocession.
  • Hardy Underwriting has succeeded in holding on to the almost 20 percent share price bump it achieved after the revelation last week that it had rejected a £158mn approach by larger Lloyd's insurer Beazley.
  • Florida's regulators approved State Farm's controversial plan to withdraw from the Sunshine State's property insurance market within two years.
  • Equity Syndicate 218's losses from its misfiring motor book are likely to reach £480mn, figures released by Equity Syndicate Management Limited suggest.