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Ironshore chairman poised to head Northern Rock
Ron Sandler, the chairman of Bermudian insurer Ironshore Ltd and the former chief executive of Lloyd's, is poised to run the stricken UK bank, Northern Rock, if it is nationalised.
14 January 2008
MBIA debt ratings downgraded on financial fears
Ratings agency Moody's has downgraded the senior secured debt ratings of giant bond insurer MBIA Inc, on the back of "various financial developments and capital initiatives" recently announced by the firm.
14 January 2008
Hard market 'party is ending, but not yet over' says ABN AMRO
The hard market party enjoyed by (re)insurers over the last few years may be ending, but it is not over yet, according to ABN AMRO analyst Joanna Parsons.
14 January 2008
Analyst upbeat on R&Q after Bermuda launch
Stockbroker Equity Development are upbeat about Randall & Quilter Investment Holdings (R&Q)'s prospects following its recent initial public offering and approval to establish a Bermudian reinsurer, R&Q Re (Bermuda) Ltd.
14 January 2008
Marsh in £200mn Capita UK back office outsourcing deal
Capita Group plc has won the £200mn contract to run Marsh UK's back office in a deal which will see 650 of the broker's staff move to the outsourcing firm.
14 January 2008
International News Digest
Asbestos liability (re)insurer St George Re in Bermuda launch; Great American accused of bid rigging; Citizens in Bermuda; Ironshore buys Fairfax shell; Tobin steps down from XL...
14 January 2008
Mayer Brown in Asia merger
Global law firm Mayer Brown LLP is to merge with the Asian law firm, Johnson Stokes & Master (JSM).
14 January 2008
Bankers Life/Credit Suisse test case for sub-prime litigation
A suit against Credit Suisse filed by Florida insurer Bankers Life Insurance over losses on investment-grade bonds backed by sub-prime mortgages sold by the bank is expected to become a "bellwether" for legal action relating to the credit turmoil.
14 January 2008
State Street litigation sparks E&O fears
The sub-prime related professional liability (PL) litigation faced by US financial services firm State Street Corp has set alarm bells ringing among errors and omissions (E&O) insurers.
14 January 2008
Further capital repatriation likely in 2008
As well as cutting 2008 capacity on Lloyd's syndicates, a number of the market's listed insurers have already begun to hand capital back to shareholders - a pattern likely to continue this year...
14 January 2008
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