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Florida cat fund u-turn passes key hurdle
A scaling back of the Florida Hurricane Catastrophe Fund (FHCF) looks closer after legislation cleared its first hurdle in the state's House of Representatives last Thursday.
25 February 2008
Aon buys Gallagher Re for an estimated $38mn
Aon Corp has bought Chicago neighbour AJ Gallagher & Co's (AJG) reinsurance arm Gallagher Re - in a move first predicted by The Insurance Insider.
25 February 2008
Decus to launch with Gallagher team
US retail broker Brown & Brown is to formally launch its London market platform, Decus Insurance Brokers Ltd, with a team led by former Gallagher broker Melanie Alexander.
25 February 2008
London approaches end of paper premiums
The London market has moved a step closer to eliminating paper from premium processing, according to the Market Reform Group (MRG).
25 February 2008
IRS leaves captives tax unchanged
US tax authority the Internal Revenue Service (IRS) has withdrawn its proposal to alter tax arrangements for US captive insurers.
25 February 2008
Sandler continues at Ironshore; steps down from Oxygen
Ron Sandler will continue as chairman of Bermudian insurer Ironshore Ltd after taking the helm at newly nationalised UK bank, Northern Rock.
25 February 2008
US Court of Appeals rejects Travelers' asbestos settlements
The US Court of Appeals has rejected the asbestos settlements reached by US insurer Travelers Cos with policyholders in March 2006.
25 February 2008
Fairfax trades credit crisis to own advantage
Canadian conglomerate Fairfax Financial Holdings reported record 2007 results fuelled by investment income of $1bn driven by credit default swaps (CDS) tied to US financial groups and bond insurers.
22 February 2008
Willis: 'police not investigating us'
Willis has confirmed that it is not being investigated by the City of London Police over allegations of wrongdoing relating to Indonesian energy business.
22 February 2008
Police arrest Willis energy duo over alleged fraud
City police are again investigating allegations of overseas corruption in connection with London market insurance brokers.
22 February 2008
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