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  • A recent UK High Court decision has outlined the dangers to reinsureds of making misrepresentations to their reinsurers either directly or through a broker.
  • Reinsurers have been ordered to settle a $57mn disputed all risks reinsurance claim with global mining giant Anglo American's captive insurance company Coromin.
  • Heritage Underwriting Agency plc, the specialist Lloyd’s insurer, has admitted receiving an "indicative proposal" but says the "the price contained within the proposal significantly undervalues the company".
  • The world's largest interbroker-dealer ICAP plc and insurance broker JLT Group plc have launched their joint venture to establish an insurance based derivatives and securities broking platform, subject to FSA approval.
  • The founder and chairman of struggling Primary General, Jonathan Davey, has left the company, which looks set to restructure further.
  • UK broking consolidator, Towergate Partnership agreed a £95mn cash offer for Yorkshire-based Broker Network Group last month, valuing the firm at almost four times revenues.
  • Takeover speculation has again gripped reinsurance broker Benfield Group with Aon Corp the latest to be linked with the firm.
  • American International Group (AIG) executives including CEO Martin Sullivan and CFO Steven Bensinger have been named in a suit filed by shareholders over the firm’s handling of its exposure to the sub-prime crisis.
  • Swiss Re's shares lost 20 percent of their value in just four weeks following the firm’s shock SFr1.2bn ($1.1bn) mark-to-market loss from credit default swap exposures.
  • The Bermudian insurance group Ironshore Inc has confirmed it has made an approach for the Lloyd’s insurer Heritage Underwriting Agency, as revealed by The Insurance Insider today.