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Citigroup in $1.66bn Enron settlement
Enron creditors are set to receive a $1.66 billion lawsuit payout after Citigroup Inc agreed a settlement over its responsibility in the energy trading firm's downfall.
31 March 2008
Brokers get Brazilian go-ahead
Six foreign reinsurance brokers have been licensed by the Brazilian insurance regulator Susep as intermediaries begin to take advantage of the newly deregulated Brazilian market, according to news reports.
31 March 2008
S&P warns on Swiss Re's missing business
Ratings agency Standard & Poor's (S&P) has sounded a note of caution over disciplined underwriting based on the amount of "under priced" business picked up by the market in the aftermath of Swiss Re's 12 percent reduction...
31 March 2008
Towergate 'over-priced' after £800mn sale talks collapse
The breakdown of stake holding talks between Towergate and private equity group Candover is likely to be a result of the insurance intermediary's over-valuation, according to an investor source.
31 March 2008
IG fights back over Aon P&I criticisms
The International Group of P&I (protection & indemnity) Clubs (IG) has fought back over criticisms by broker Aon of its reinsurance renewal.
31 March 2008
California considers bond insurer in Berkshire snub
The state of California is looking at the possibility of its pension funds creating a new municipal bond insurer as an alternative to existing players and Berkshire Hathaway’s start-up in the embattled sector.
31 March 2008
AWAC launches $500mn US reinsurer
Allied World Assurance Company Holdings Ltd (AWAC) has launched its $500mn US reinsurance platform with the endorsement of A and A- financial strength ratings from AM Best and Standard & Poor's (S&P) respectively.
31 March 2008
JLT settles energy team dispute with RK Harrison
Jardine Lloyd Thompson Group plc (JLT) has settled its legal dispute with three of its former energy brokers for allegedly attempting to take a major client with them when they left.
31 March 2008
Aspen goes full circle with Lloyd’s start-up
Aspen Insurance Holdings Ltd has become the latest Bermudian to establish a Lloyd’s presence with the launch of start-up Syndicate 4711.
31 March 2008
LMBC elects new chairman
Aon Ltd deputy chairman Jonathan Palmer-Brown has been elected as chairman of the London Market Insurance Brokers' Committee (LMBC).
31 March 2008
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