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Former RenRe executive agrees to fine and ban
Former RenaissanceRe Holdings Ltd executive Michael Cash has agreed to settle civil charges filed by the Securities and Exchange Commission (SEC) by paying a $130,000 fine and receiving a five-year ban...
12 November 2007
Highlands UK declared insolvent
Run-off insurer Highlands Insurance Company (UK) Ltd went into insolvent administration at the High Court on 1 November.
09 November 2007
London News Digest
Banking interest grows with Goldman Sachs Lloyd's entry; Towergate firm swoops for Erinaceous teams; GA sells down Xchanging stake; Aviva in £350mn UK cost cutting programme; Canopius and Talbot make Lloyd’s Asia move...
09 November 2007
Marsh to face UIB aviation poaching dispute in 2008
Marsh Ltd will be forced to defend itself on charges of poaching a senior aviation team and confidential business information from United Insurance Brokers (UIB) in a trial scheduled to take place next summer.
09 November 2007
London reinsurers lose North Korean appeal
London market reinsurers led by Allianz have had their appeal dismissed against the striking out of significant parts of their defence in the controversial EUR44.3mn dispute with the North Korean national insurer.
09 November 2007
QBE Limit/Markel bond 'fraud' showdown next year
QBE Limit and Markel International's UK High Court showdown with broker Surety Guarantee Consultants Ltd (SGC) and other defendants over construction bond fraud allegations has been postponed until next year.
09 November 2007
Guy Carpenter develops long-tail casualty hedge product
Reinsurance broker Guy Carpenter is developing a product to allow (re)insurers to hedge the risk of under-reserving on long-tail casualty lines of business.
09 November 2007
Lehman Bros takes principal risk
Lehman Bros has been given the green light by the Financial Services Authority to begin trading at its subsidiary Libero Ventures Ltd, which aims to transfer "vanilla" exposures by employing securitisation...
09 November 2007
Summer madness has not dimmed cat bond fervour
Catastrophe bond issuance has resumed after a hiatus during the traditionally quiet summer period for insurance-linked securities (ILS) - overshadowed by the post sub-prime credit crisis - as the market awaits...
09 November 2007
Pipeline profits fuel Bermudians
It was a familiar tale as Bermuda's (re)insurance community booked third quarter figures that set strong profits from two years of benign underwriting conditions against a backdrop of falling rates and a less positive outlook for the sector.
09 November 2007
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