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Greenlight bounces back from investment loss
Cayman Islands-based Greenlight Capital Re bounced back to profit in the final quarter of the year after its third quarter result was decimated by a $21.4mn investment loss.
25 March 2008
Brokers open up the Middle East
Major brokers Marsh and Willis Group Holdings are opening offices in the Middle East as the region continues to attract interest from the industry.
25 March 2008
Chubb, XL, HCC and AIG on Bear Stearns D&O cover
Chubb insures the primary layer of the Marsh-placed $75mn directors' and officers' (D&O) programme for beleaguered investment bank Bear Stearns, our sister title The Insurance Insider revealed last week.
25 March 2008
ACE plans Swiss move
Bermudian firm ACE Ltd is moving its holding company from the Cayman Islands to Zurich, Switzerland.
25 March 2008
Briault leaves FSA in reshuffle
Clive Briault, managing director of retail business at the Financial Services Authority (FSA), has left the UK regulator as part of a reshuffle following the Northern Rock crisis.
25 March 2008
Scruggs faces disbarment
Richard Scruggs, the lawyer who successfully fought the tobacco companies in a series of class actions, is facing disbarment from the Mississippi Bar Association after pleading guilty to bribing a judge.
25 March 2008
Dresdner offers K2 bailout
Allianz-owned Dresdner Bank has offered its structured investment vehicle (SIV) K2 a $1.5bn bailout so it can service its outstanding $16bn debt.
25 March 2008
BIBA hits back at FSA's transparency review
The British Insurance Brokers' Association (BIBA) has hit back at the Financial Services Authority's (FSA) "lengthy and costly" report into broker transparency and said the industry does not need regulatory intervention.
25 March 2008
Industry demands joined-up approach to regulation
Grahame Chilton, Benfield Group CEO, has made an impassioned plea for a more joined-up approach to international regulation as he said the current fragmented structures are generating greater costs and complexities...
25 March 2008
SCA fights back over Merrill Lynch CDS lawsuit
Security Capital Assurance (SCA) has fought back against a lawsuit filed by Merrill Lynch & Co alleging its financial guarantee subsidiary XL Capital Assurance Inc (XLCA) is attempting to avoid...
25 March 2008
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