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AIG makes $13.5mn settlement with Pennsylvania
US giant American International Group (AIG) has confirmed a $13.5mn settlement payout with the Pennsylvania Insurance Department.
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
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
Florida cat fund bill builds momentum
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.
07 April 2008
Argo set for Lloyd's entry with Heritage deal
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...
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
Rise in sub-prime lawsuits sparks claims fears
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.
07 April 2008
Flood of losses brings mining sector to 'watershed'
The mining sector has hit a "watershed" following a spate of heavy losses accelerated by rising commodity prices that have decimated hard market profits.
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
Tunnicliffe quits Advent
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.
07 April 2008
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