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  • Shares in Bermuda-based Omega Insurance Holdings "justify a premium rating" regardless of takeover bid speculation, according to Numis Securities analyst Nick Johnson.
  • Alea group CFO and COO, Kirk Lusk, has resigned from the Bermudian-headquartered run-off company.
  • The Financial Services Authority (FSA) has admitted to failings in relation to the meltdown at Northern Rock and has pledged to improve its supervision levels.
  • This year's onshore energy losses have wiped out the profits made by (re)insurers that have enjoyed the post-2005 hard market, according to a report by broker Lloyd & Partners.
  • Reinsurers have seen rates fall by up to 10 percent during the 1/4 Japanese renewal season, according to reinsurance broker Guy Carpenter.
  • UK broker Cobra Holdings plc has reported a 56 percent increase in operating profit for the 12 months to 31 December 2007, boosted by growth in its network and underwriting agency divisions.
  • Swiss-headquartered (re)insurer Glacier Group has launched its new London underwriting operation, as predicted by Insider Week in January.
  • World Trade Center developer Larry Silverstein, who already successfully claimed $4.55bn from (re)insurers following the 11 September attacks, is seeking a further $12.3bn in damages from airlines and airport security companies.
  • Lloyd's brokers expect consolidation to continue over the next three years, despite the majority expressing concern that the credit crunch would impact broker valuations.
  • Ratings agency Standard & Poor's (S&P) has revised its outlook to Positive from Stable for Bermudian Max Capital Group Ltd following the firm's increased diversification and strong capitalisation.