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  • Ron Sandler, the chairman of Bermudian insurer Ironshore Ltd and the former CEO of Lloyd's, has taken the helm at newly nationalised UK bank, Northern Rock.
  • Royal Bank of Scotland Insurance (RBSI) has culled 100 middle managers as part of its ongoing restructuring that aims to align its disparate brands and prevent them undercutting each other.
  • US insurer Liberty Mutual Group saw profits fall 7 percent last year, down to $1.5bn from $1.6bn in 2006.
  • Lloyd's has confirmed it is in the process of making a formal application to become an admitted reinsurer in Brazil, a move first revealed by The Insurance Insider, following the country's plans to scrap its collateral requirements for higher rated reinsu
  • ESR Insurance Services Ltd - the Lloyd's broker hit by allegations of fraud in its surety bond division - has gone into administration.
  • The Dubai International Financial Centre (DIFC) has entered into a joint venture with the London Court of International Arbitration (LCIA) as the emirate aims to establish itself as an international arbitration jurisdiction.
  • Negative goodwill arising out of the reverse merger of PXRE Group has boosted specialty (re)insurer Argo Group's 2007 results.
  • After two years characterised by more financial strength ratings upgrades than downgrades, AM Best has predicted actions will be more "fairly balanced" for US property and casualty (P&C) insurers in 2008.
  • The acquisition of Lloyd's insurer Talbot has boosted Bermudian Validus' full year 2007 net income by around 120 percent year-on-year.
  • US insurer CV Starr & Co has announced a tie-up with Allied World Assurance Company (AWAC) enabling it to offer management liability lines on behalf of the Bermudian firm.