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  • Brit Insurance Holdings plc’s share price continued to fall this morning despite an encouraging trading statement and the group’s apparent lack of exposure to the sub-prime crisis.
  • The financial strength rating (FSR) of Swiss Re has been placed under review with negative implications by AM Best following the reinsurance giant’s announced SFr1.2bn ($1.1bn) mark-to-market loss from credit default swap exposures.
  • Jardine Lloyd Thompson (JLT) has become the latest broker to announce a capital repatriation programme as the group’s share price continues to fall as a result of weak equity markets.
  • Fitch Ratings has upgraded the insurer financial strength ratings of UK insurer Aviva plc’s non-life firms to AA.
  • Non-life insurers should escape the global credit crunch but not contagion from economic stagnation or recession, according to the latest research from Morgan Stanley.
  • Syndicate forecasts for Chaucer Holdings plc’s Lloyd’s operation have continued to improve, according to the firm’s latest report.
  • Gallagher London is optimistic that it will receive an understanding response from insurers and clients as it levies an additional commission for placing business in the London and UK markets.
  • Endurance Specialty Insurance Ltd has been upgraded to A by AM Best, returning the Bermudian (re)insurer’s ratings to their pre-Katrina level.
  • US broker USI Holdings Corporation has unveiled Michael Sicard as the successor to David Eslick as its chairman, president and CEO.
  • Quoted Lloyd's insurers Amlin plc and Beazley plc continued the market trend for share buybacks after announcing the repurchase of shares totalling £150mn last week.