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  • XL D&O dispute heads for court; ALAS settles with reinsurers The acrimonious dispute between reinsurance broker RK Carvill and its former client XL Professional Liability over its disputed D&O treaties is set for an October 2005 show-down.
  • Three Japanese non-life insurers Aioi Insurance, Mitsui Sumitomo, and Nissay Dowa are in talks to create Japan’s largest non-life insurer, according to a report from Bloomberg citing two sources close to the situation.
  • Bermudian (re)insurer Endurance has bought a part of in run-off Glacier Re's international and US property catastrophe and global specialty reinsurance business through a quota-share treaty and renewal rights deal.
  • Catastrophe losses from the tornado-heavy month of May will cost Allstate $323mn before tax
  • Bermudian reinsurers Everest Re Group and PartnerRe Ltd emerged relatively unscathed from high-profile second quarter Australian and UK cat events to report net earnings increases of 28 percent and 35 percent, respectively, for the period.
  • The descent into litigation and recrimination continues and it is AXA who is leading the charge. Much of the last issue of The Insurance Insider was dedicated to the latest batch of victims to fall prey to the madness of investing in films – London co
  • Tokio Marine has promoted Wayne Krause to the position of European head of marine underwriting.
  • Willis Group has named Vic Krauze as president of Willis HRH, its North American retail business.
  • US broker Brown & Brown broke the $1bn total revenue mark for the first time last year as it booked net profits of $164mn, just ahead of the $162mn it earned in 2010.
  • Former CEO of General Re Ronald Ferguson was sentenced to a two year custodial sentence for his role in the $500mn finite reinsurance fraud involving the Berkshire Hathaway owned reinsurer and American International Group (AIG).