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  • Munich Re beat its increased profit projections for 2007 as it booked a consolidated result of EUR3.9bn for the year, up 11.9 percent on 2006.
  • The London market has moved closer to eliminating paper from premium processing as the Market Reform Group (MRG) announced today (19 February).
  • Market veteran John Charman has signed a five-year deal that will see him continue to head up Bermuda-based AXIS Capital Holdings Limited, the company he founded.
  • The acquisition of Caribbean property insurer Island Heritage boosted the premium income of "Class of 2005" reinsurer Flagstone Re, which rose 91 percent last year, it revealed in its 2007 results yesterday (18 February).
  • The Association of British Insurers (ABI) has warned that tougher planning controls are needed if flood insurance is to remain widely available for new homes in the UK.
  • The number of sub-prime related cases filed in federal courts is dramatically outpacing the savings-and-loan (S&L) litigation of the early 1990s, according to a recent study.
  • Bermudian financial guaranty and credit (re)insurance specialist Assured Guaranty Ltd (AGL) fell to a loss of $260.1mn in the fourth quarter of last year after taking a $297.5mn sub-prime derivative hit.
  • A significant reduction in the UK’s run-off liabilities has driven a EUR2bn decrease across Europe, according to a new survey launched by PricewaterhouseCoopers LLP (PwC) in conjunction with the Association of Run-Off Companies.
  • Shareholders in Lloyd's (re)insurer Kiln Ltd have approved the cash acquisition of the firm by Tokio Marine & Nichido Fire Insurance Co Ltd at a special general meeting last week.
  • Analysts reacted with cautious optimism as organic growth boosted Marsh and McLennan Companies Inc’s (MMC) 2007 revenues in its 2007 results, which were published last week.