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ESR broker arrested over bond fraud
David Bedford, director of Lloyd's broker ESR Insurance Services Limited (ESR), has been arrested and released on bail without charge in connection with a police investigation into an alleged fraud for millions of pounds.
11 February 2008
Concord Re grounded
Concord Re, the $730mn sidecar established by American International Group's (AIG) subsidiary Lexington Insurance Company in 2006, has been non-renewed for 2008, as predicted by The Insurance Insider last year.
11 February 2008
RMS to launch natural cat indices
Risk modelling firm Risk Management Solutions (RMS) is launching a series of natural catastrophe indices for US wind and quake, and European windstorm under the banner Paradex.
11 February 2008
Mixed quarter for Bermudians as reserve releases cushion soft market fall
In contrast to its troubled rival, ACE Ltd - which was set up with XL on Bermuda in the mid-'80s - reported record full year 2007 net income of $2.58bn, up 12 percent on the prior year...
11 February 2008
AJ Gallagher shares buoyed by imminent reinsurance sale
AJ Gallagher & Co's (AJG) confirmation last month that it was putting loss making reinsurance broker Gallagher Re up for sale has been welcomed by analysts.
11 February 2008
Second December satellite failure as sector plunges to 2007 loss
An annus horribilis in the space insurance market tailed off with a second potential satellite loss in December.
11 February 2008
Sciemus to launch power MGA
Sciemus Ltd is set for a 1 March underwriting start in the power market, after securing capital for the venture, The Insurance Insider can reveal.
11 February 2008
Enstar set for R&SA legacy acquisition
Enstar Group Ltd is close to a deal that will see it acquire Royal & SunAlliance's (R&SA) up-for-sale UK legacy units, The Insurance Insider can reveal.
11 February 2008
Caribbean cat fund expands for 2008
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is to be expanded for 2008 renewal, doubling available coverage to $100mn per peril.
11 February 2008
HCC in $10mn settlement over share options
US insurer HCC Insurance Holdings Inc has settled the class action lawsuit over its stock-option granting practices for $10mn.
11 February 2008
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