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  • Ratings agency AM Best has affirmed Swiss Re's A+ (Superior) financial strength rating and removed it from review with negative implications after receiving reassurance over the firm’s exposure to credit default swaps (CDS).
  • Aon has criticised the "absurdly late" release of reinsurance tariffs for the P&I (protection & indemnity) clubs, called for full transparency of how shipowners' premiums are allocated and questioned...
  • French insurance giant AXA's UK subsidiary has taken formal control of broker SBJ Group after getting the green light from shareholders and UK regulator the Financial Services Authority.
  • Leading insurance linked securities (ILS) investor and co-founder of Fermat Capital Management John Seo has warned that a "reputational storm is definitely brewing" over the sector, over the lack of transparency, disclosure and...
  • Mandatory disclosure of commissions for brokers has been highlighted as a possible solution to the issue of transparency, the Financial Services Authority (FSA) has revealed in its latest discussion paper on insurance intermediaries.
  • French insurance giant AXA’s UK subsidiary has taken formal control of broker SBJ Group after getting the green light from shareholders and UK regulator the Financial Services Authority.
  • Chubb insures the primary layer of the Marsh-placed $75mn directors’ and officers’ (D&O) programme for beleaguered investment bank Bear Stearns, The Insurance Insider can reveal.
  • The acquisitions of Revios and Converium have pushed French reinsurer SCOR’s 2007 profits up 62 percent to a record EUR407mn, the company reported today (19 March).
  • Newly-redomiciled Lloyd’s (re)insurer Hardy Underwriting Bermuda Ltd reported record 2007 pre-tax profits of £18.3mn.
  • Beleaguered life reinsurer Scottish Re had its stock suspended by the New York Stock Exchange (NYSE) last week, and has an application pending with the Securities and Exchange Commission to delist the firm.