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Lothian to leave Benfield
Andrew Lothian, a senior member of Benfield Group's accident and health specialty team, is set to leave the reinsurance broker.
28 January 2008
AIG rescues $2.5bn SIV
American International Group became the latest financial institution to bail-out a structured investment vehicle (SIV) when it came to the rescue of its $2.5bn vehicle, Nightingale Finance.
28 January 2008
Towergate continues acquisition spree
UK consolidator Towergate Partnership has bought Scottish broker, McAra Associates Ltd, together with the mortgage payment specialist, British Insurance.
28 January 2008
Alea forms RITC syndicate
Run-off (re)insurer Alea Group Holdings is set to add to Lloyd's growing reinsurance-to-cose (RITC) capacity after receiving conditional approval to set up Syndicate 2740.
28 January 2008
The Hartford reports strong Q4 earnings
US insurer The Hartford Financial Services Group has reported core earnings of $840mn, or $2.66 per diluted share, in the fourth quarter of 2007, a 22 percent increase on the same period in 2006.
28 January 2008
Markel sets new earnings record in 2007
Specialty insurance group Markel Corporation has improved on last year's record performance despite seeing its combined ratio rise, it reported in its 2007 results.
28 January 2008
Big Dig highway contractor settles lawsuit for $400mn
A long-running lawsuit filed by Massachusetts State over a fatal tunnel collapse and numerous leaks and design flaws in the massive Big Dig highway project has been settled.
28 January 2008
Max considers 2008 acquisitions
In a letter to shareholders Max Re chairman and CEO Marty Becker said the company would be looking to make acquisitions this year as it makes "economic sense" at this time in the reinsurance cycle.
28 January 2008
Fitch downgrades bond insurer SCA
XL Capital's decision not to bail out Security Capital Assurance Ltd (SCA) and its financial guaranty insurance subsidiaries has led ratings agency Fitch to slash the bond insurer’s financial strength ratings from AAA to A.
28 January 2008
XL downgrade will hurt competitive position, warn analysts
Troubled XL Capital was downgraded by both AM Best and Fitch Ratings late last week, with analysts warning the rating action could limit the (re)insurer’s competitive position, particularly in US casualty business.
28 January 2008
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