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  • The rebuilding of the World Trade Center site that was devastated in the 9/11 terrorist attacks will not be completed until the middle of the next decade and may run up to $3bn over budget, according to reports.
  • Paul Jardine, COO of Catlin Group, has been returned as chairman of the Lloyd’s Market Association (LMA).
  • QBE Insurance Group has announced the appointment of Chris Fish as CFO for its Americas division.
  • Bermuda's financial services sector has seen little fall-out from the US sub-prime meltdown as the island's regulator released its annual report.
  • Aon Risk Services has launched a mergers & acquisitions (M&A) service for private equity, sovereign funds, business-to-business, real estate and infrastructure funds based in its Dubai office.
  • The auditors of failed UK insurer Independent Insurance have been fined £500,000 and ordered to pay costs of £1.15mn by the UK accountancy watchdog after a tribunal found the firm's conduct "seriously below the appropriate standard".
  • Acquisitive run-off specialist Enstar Group Ltd has announced plans to raise around $105mn with a new public share issue.
  • The risk of flooding in the UK will continue to escalate unless the government improves the resilience of flood-prone areas, according to an independent review of last summer's UK floods.
  • Despite a "good year for the insurance industry" in 2007, the non-life sector faces considerable challenges, according to Swiss Re.
  • As predicted by The Insurance Insider last week, Capita Group plc and Marsh UK finalised their 10-year outsourcing deal, worth £187mn, that will see around 600 staff transfer to the outsourcing firm.