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US Senate rejects federal wind damage coverage
The US Senate has rejected moves to add wind coverage to the federal programme that provides flood insurance.
12 May 2008
UK government warned on tax regime
The UK Treasury is under renewed pressure to create a more favourable tax regime for businesses or face an exodus of corporations to overseas domiciles.
12 May 2008
MMC falls to loss on Kroll charge, but analysts upbeat
Marsh & McLennan Companies (MMC) slipped to a $210mn first quarter net loss as a result of a $425mn goodwill writedown at its security consulting arm Kroll.
12 May 2008
HCC profits dip after investment losses
First quarter profits fell at US insurer HCC Insurance Holdings Inc following losses in its investment portfolio.
12 May 2008
RSA 'should be broken up' says analyst
As RSA announced a 15 percent rise in group net written premiums to £1.7bn in the first quarter of 2008, compared to the prior-year period, one analyst believes it is "likely" the group will be broken up.
12 May 2008
IFEX gets green light to margin trade in US hurricane season
Trading risk platform Insurance Futures Exchange Services (IFEX) is to facilitate margin trading during the North Atlantic wind season - in a move that may encourage greater activity on the derivative exchange.
12 May 2008
Largest player in retakaful market launched
Three companies have joined together to launch ACR ReTakaful Holdings Ltd, the largest retakaful company in the reinsurance industry with a capital base of almost $300mn.
12 May 2008
Hiscox premium income falls 10 percent
Bermuda-headquartered Lloyd's insurer Hiscox Ltd has dropped its premium income by 10 percent this year as it sticks to its guns about underwriting discipline in the soft market.
12 May 2008
Swiss Re hit by further credit losses
Swiss Re shares fell more than 5 percent last week after the reinsurance giant continued to disappoint analysts with further structured credit losses that halved Q1 profits.
12 May 2008
Analysts upbeat on Munich Re despite Q1 major loss impact
Munich Re's first quarter profits dipped 19 percent as it took a EUR578mn hit in its reinsurance division from the spate of major losses hitting the market in the period.
12 May 2008
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