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  • Lucida plc, a new insurance company headed by ex-Prudential plc CEO John Bloomer and backed by US hedge fund Cerberus Capital Management, has concluded its first reinsurance deal with Bank of Ireland Life (BOI Life).
  • Monoline bond insurer Ambac Assurance Corporation and subsidiary Ambac Assurance UK Ltd are on the brink of being downgraded after it cancelled its $1bn capital raising plans.
  • AM Best has affirmed the A- financial strength and a- credit ratings of "Class of 2005" Bermudian property cat reinsurer New Castle Reinsurance Company Ltd, based on strong performance since its launch.
  • Bermudian firms PartnerRe and RenaissanceRe have announced combined writedowns of more than $200mn from their stakes in financial guarantee reinsurer Channel Re.
  • US insurer Allstate Corp has been granted a ten-day stay against a suspension order from the Florida Office of Insurance Regulation (FOIR), enabling it to continue writing new business in the state while it provides the regulator...
  • Shares in Marsh & McLennan Group (MMC) spiked to $28.37 Thursday (17 January) - up 8 percent on their opening price - as news broke of an approach from rival Willis Group to open takeover talks for its larger rival.
  • US giant American International Group (AIG) leads the hull cover on the British Airways jet that crash-landed at London’s Heathrow Airport yesterday (17 January) while carrying more than 150 passengers.
  • Willis Group is likely to face significant regulatory hurdles if it is to be successful in concluding a possible takeover of its larger rival Marsh & McLennan (MMC).
  • Bermudian firms PartnerRe and RenaissanceRe have announced combined writedowns of over $200mn from their stakes in financial guarantee reinsurer Channel Re.
  • Crystal ball-gazers of broker M&A activity have long predicted that Joe Plumeri has at least one major deal in him before he steps down at Willis Group and it could prove to be a spectacular one.