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MBIA sues insurers for D&O settlement costs
Monoline bond insurer MBIA Inc is suing two insurers over a $75mn settlement it made with US regulators last year.
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
Solvency II bigger than sub-prime, says S&P
The introduction of the Solvency II regulatory system in 2012 will be far more significant to European insurers than sub-prime losses and the credit crunch, according to a report by ratings agency Standard & Poor's (S&P).
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
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
SEC to distribute AIG settlement
The US Securities and Exchange Commission (SEC) is to begin distributing over $800mn to American International Group (AIG) shareholders as part of the giant's settlement with regulators.
12 May 2008
Willis launches captive operation in Malta
Willis has launched a new Malta-based captive management operation, Willis Management (Malta) Ltd.
12 May 2008
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
Validus establishes Latin American coverholder for Lloyd's arm
Bermudian (re)insurer Validus Holdings Ltd has formed a new Miami-based company to act as an approved coverholder for its Lloyd's Syndicate 1183.
12 May 2008
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