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  • An end to contract uncertainty has been demanded by the director of the Financial Services Authority’s (FSA) retail firms division David Strachan, as he reserved the right to intervene in the market. Strachan said: “The FSA is absolutely committed...
  • Reinsurance broker Benfield Corporate Risk has opened its first Australian office. Based in Perth, the new office will focus on the development of specialty business in the energy, power and mining sectors.
  • Last week Lloyd’s confirmed the appointment of Dr Richard Ward, the former head of the London-based International Petroleum Exchange (IPE), as its new chief executive and the person responsible for executing the Corporation’s three-year strategic vision.
  • Agency issues wake-up call and raises fears of a looming liquidity crisis... Questions have again been raised over the liquidity of Fairfax Holdings after ratings agency Fitch placed the Canadian financial services holding company on a negative rating
  • The fact remains that the Scottish Lion scheme has not yet been sanctioned and the ongoing proceedings are likely to continue to influence schemes in the pipeline.
  • The litigation surrounding attempts by Stanford executives to tap their Lloyd's directors' and officers' (D&O) policies to fund their defence is continuing to grow.
  • Standard & Poor's (S&P) has said it will keep Italian insurer Generali and its subsidiaries on CreditWatch with negative implications on its A long term counterparty credit and insurer financial strength rating.
  • UK risk managers association AIRMIC has hit back at the Treasury after it declined to automatically exempt UK risk managers from being regulated by the European Insurance Mediation Directive.
  • Lloyd's has sounded a warning over cycle management, with CEO Richard Ward demanding a "clear strategy" from the market to enable it to "maintain discipline and strength in the face of increasing competition".
  • Alea, the UK listed reinsurer, appointed XL Global Services’ actuary Tom Weidman to the position of group chief actuary.