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AM Best makes senior Lloyd’s hire
AM Best has bolstered its London operations with the hiring of Lloyd’s head of capital and broker relationships, Nick Charteris-Black.
11 December 2007
R&SA upgraded on ERM
Standard & Poor's (S&P) has upgraded the financial strength ratings on the main subsidiaries of The Royal & SunAlliance Group (R&SA) from A- to A.
11 December 2007
ICAP-JLT brokers its first cat swap trade
The joint venture platform established by the world's largest interdealer-broker ICAP plc and insurance broker JLT Group plc has brokered its first catastrophe swap trade, for 2008 North American windstorm.
11 December 2007
Takeover talks boost Kiln shares
Shares in Lloyd’s insurer Kiln Ltd have jumped by 13.5 percent today as the company has emerged as a takeover target.
11 December 2007
'King of Torts' receives 15-year sentence
Louis Robles, known as the "King of Torts" has been sentenced to 15 years in jail and ordered to repay $13.5mn stolen from thousands of asbestos victims he represented.
10 December 2007
UK motor insurance industry shielded by insurance reserve releases
Record reserve releases have helped disguise poor 2006 underwriting performance in the UK motor sector, according to analysis by financial services consultant Deloitte & Touche.
10 December 2007
Bond insurers shares fall on rating fears
Shares in bond insurers fell last week after rating agency Moody's Investors Service warned that MBIA Inc is "somewhat likely" to fall short of the capital required to maintain its rating as a result of potential mortgage-related losses.
10 December 2007
Insurers call on UK government to form long–term flood strategy
The UK government needs to develop a 25 year national flood strategy to help prevent a repeat of this year's devastating floods, a report by the Association of British Insurers (ABI) has warned.
10 December 2007
Scruggs pulls out of Katrina cases as co-conspirator pleads guilty
Timothy Balducci, a co-conspirator of Richard Scruggs, the lawyer who successfully fought the tobacco companies in a series of class actions, has pleaded guilty to bribing a judge.
10 December 2007
Admiral uses Part VII to close Lloyd's syndicate
UK insurer Admiral Group plc has successfully used the Part VII mechanism to transfer business from its Lloyd's Syndicate 2004 to Admiral Insurance Company and close the syndicate.
10 December 2007
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