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  • Capita CMGL is set to complete the reinsurance-to-close (RITC) transfer of the run-off Duncanson & Holt Syndicate 55 with capital supplied by CarVal Investors LLC, a fund backed by the agribusiness giant Cargill.
  • Omega Insurance Holdings' toppled CEO, Richard Tolliday, is in line for a bumper compensation package that could exceed $6mn, The Insurance Insider can reveal.
  • The removal of Jardine Lloyd Thompson Group’s chief executive Steve McGill following last Friday’s profits warning (26 November) will again focus attention on the insurance broker’s US expansion strategy.
  • Tropical Storm Risk (TSR), the consortium of experts on insurance, risk management and seasonal climate forecasting, today (15 August) increased its forecast for Atlantic hurricane activity in 2005 by 30 percent.
  • The US Treasury is set for a final exit from American International Group (AIG) after announcing this afternoon that it has launched an underwriting public offering for its remaining 234.2 million shares in the insurance giant.
  • Ireland's second largest insurer, Quinn Insurance, has been forced into provisional administration by the UK High Court and ordered to cease writing new business in the UK, but Irish policyholders can continue to renew policies.
  • New Zealand has been hit by an earthquake measuring 6.6 on the Richter scale in the second tremor to affect the country in a month, with no serious damage reported so far
  • Strong investment performance enabled German giant Munich Re to shrug off its hurricane losses and post record profits of EUR2.7bn for 2005, increasing its dividend 55 percent to EUR3.10 as it raised the prospect of an “active capital management”...
  • The bushfires that have torn through Tasmania in the past week have caused losses of around A$49mn ($51.8mn), according to preliminary estimates from the Insurance Council of Australia (ICA).
  • Global broker Marsh has appointed Carrick Lambert as managing director of the Europe, Middle East and Asia (EMEA) financial institutions industry practice.