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  • Bermuda's Progressive Labour Party (PLP) emerged victorious in the island nation's general election earlier this week.
  • Bermudian (re)insurer Allied World Assurance Company Holdings (AWAC) has repurchased 19.4 percent of its common stock from one of the firm's founding shareholders, American International Group Inc (AIG).
  • The California Earthquake Authority (CEA) has emerged as the latest industry victim of Mainsail II LLC, the ailing structured investment vehicle (SIV).
  • Renowned reinsurance industry figures Jim Stanard and Rod Fox have teamed up to launch an insurance management firm backed by venture capital.
  • Michael Cherkasky, the president and chief executive of Marsh & McLennan Companies Inc (MMC), has been axed by the firm following continuing criticisms of the group's performance.
  • Michael Cherkasky, the president and chief executive of Marsh & McLennan Companies Inc (MMC), has been axed by the firm following continuing criticisms of the group’s performance.
  • Global law firm Mayer Brown LLP is to merge with the Asian law firm, Johnson Stokes & Master (JSM).
  • Lloyd's is planning to enter the Brazilian reinsurance market as an admitted carrier following the country's approval of plans to scrap its collateral requirements for higher rated reinsurers.
  • Natural disasters cost $61bn in economic damages in 2007, approximately $25bn of which was insured losses, according to research by reinsurance giant Swiss Re.
  • The US property/casualty insurance industry's after tax net income rose 7.1 percent to $49.4bn in the first nine months of 2007, but profitability slipped to 13.1 percent for the period from 13.8 percent in the previous year, as underwriting results deter