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  • Low catastrophe losses drove Bermudian (re)insurer Aspen Insurance Holdings Ltd to a record quarter, it reported yesterday (1 November).
  • Run-off insurer Highlands Insurance Company (UK) Ltd will apply for insolvent administration at the High Court today (1 November).
  • Bermudian (re)insurer Endurance Specialty Holdings has reported a rise in income against a background of falling written premiums in the third quarter.
  • 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.
  • Spain’s largest (re)insurer, MAPFRE SA has agreed to buy Massachusetts-based non-life personal lines insurer The COMMERCE Insurance Company in a $2.2bn (EUR1.5bn) cash deal.
  • Validus Holdings-owned Talbot Underwriting has become the latest Lloyd’s insurer to launch an Asian venture through the Corporation’s Singapore platform.
  • Ratings agency Standard & Poor’s (S&P) has warned that if rates in most classes continue at their present level beyond mid-2008, then it may downgrade the outlook for a number of industry sectors.
  • Broking giant Aon is to lose 2,700 jobs in another wide-ranging restructuring that aims to save an annual $240mn by 2010.
  • Insurance specialists Edwards Angell Palmer & Dodge LLP (EAPD) and London-based Kendall Freeman have confirmed plans to merge the two law firms today (30 October), as predicted by The Insurance Insider last week.
  • Bermudian-headquartered (re)insurer, AXIS Capital Holdings Ltd, has reported a 19 percent increase in operating income for the third quarter of 2007, capping eight straight quarters of "record profitability", according to its president and CEO...