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  • US giant American International Group (AIG) has confirmed a $13.5mn settlement payout with the Pennsylvania Insurance Department.
  • 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.
  • 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.
  • Momentum continues behind legislation to scale back the Florida Hurricane Catastrophe Fund (FHCF), after the state CFO-backed bill passed both the Senate’s Governmental Operations Committee and its Banking and Insurance Committee.
  • Shares in Heritage Underwriting Agency plc surged to a record high at the beginning of the month after its board recommended a 154p a share cash offer from Argo Group International Holdings Ltd that is set...
  • Insurance intermediary Towergate has been forced to put its £1bn refinancing plans on ice.
  • A total of 259 sub-prime related lawsuits, alleging a variety of misdemeanours, have now been brought against firms in the US to date and have the potential to cause substantial claims against global insurers.
  • The mining sector has hit a "watershed" following a spate of heavy losses accelerated by rising commodity prices that have decimated hard market profits.
  • Second worst ever quarter for single risk losses; but impact on rate pressures remains minimal
  • Lloyd’s (re)insurer Advent Underwriting Ltd has been dealt a blow by the sudden resignation of the chief underwriting officer of its Syndicate 780, Lloyd Tunnicliffe.