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Lloyd's open years fall 40 percent
The recent surge in reinsurance-to-close (RITC) transactions is reflected in Lloyd's figures that reveal a dramatic fall in the number of run-off years of account at the end of 2007.
07 April 2008
Court denies Gallagher restraining order on start-up broker
A US federal court has denied AJ Gallagher & Co's January request for a temporary restraining order against start-up broker Edgewood Partners Insurance Center (EPIC) following the defection of several senior employees.
07 April 2008
US insurers facing payout for river clean up
Insurers owned by US giants American International Group (AIG), Chubb and CNA are facing a multi-million dollar bill for cleaning up the Fox River in Wisconsin after a jury ruled in a paper company's favour.
07 April 2008
Indemnity triggers persist with Chubb's $200mn East Lane Re II
The successful launch of US insurer Chubb Group's latest $200mn cat bond, East Lane Re II, is a validation of indemnity triggers as a viable structure for cat bonds.
07 April 2008
Aspen back to roots with Lloyd's start-up
Aspen Insurance Holdings Ltd became the latest Bermudian to establish a Lloyd’s presence with the launch of start-up Syndicate 4711.
07 April 2008
Debt markets freeze Towergate £1bn refinancing
Insurance intermediary Towergate has been forced to put its £1bn refinancing plans on ice.
07 April 2008
SCA downgraded to junk: concern over impact on XL
Embattled Security Capital Assurance Ltd (SCA) has fought back over its downgrade to junk status by Fitch Ratings, as analysts continue to warn over the knock-on impact on 46 percent owner XL Capital.
07 April 2008
Verdict due in Markel SGC construction bond 'fraud' dispute
Markel International and QBE Limit will have to wait until at least the end of May for a verdict in their UK High Court showdown with broker Surety Guarantee Consultants Ltd...
07 April 2008
FSA concerned over insurers' grab for distribution
March discussion paper also raises again the prospect of mandatory disclosure
07 April 2008
2008 sees $3.75bn record loss quarter
Second worst ever quarter for single risk losses; but impact on rate pressures remains minimal
07 April 2008
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