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Consolidator Broker Network subject of buyout interest
Yorkshire-based consolidator Broker Network Group has received a takeover approach which "may or may not lead to an offer being made for the company", according to a recent London Stock Exchange announcement.
22 October 2007
Aon sued by Caterpillar
Broking giant Aon Corp is being sued by a long-term client, Caterpillar Inc on charges of fraud and anti-competitive behaviour.
22 October 2007
New York drives collateral relief for non-US reinsurers
After decades of lobbying from the international (re)insurance community, one US state is spearheading new regulation that would remove collateral requirements for the highest rated foreign and non-New York reinsurers.
22 October 2007
Reinsurance rates 'risk-adequate' for 1/1 renewals, Munich tells Baden Baden delegates
As reinsurance market practitioners gathered in the town of Baden Baden this weekend, German reinsurance giant Munich Re boldly stated that, for the 1 January 2008 renewals, it predicts markets to be "harder than expected" in certain sectors of the indust
22 October 2007
Guy Carpenter rebrands and expands investment banking operation
Reinsurance broker Guy Carpenter & Co has announced that it has changed the name of MMC Securities to GC Securities and has expanded its investment banking capabilities in Europe.
22 October 2007
Chubb gets go-ahead for Chinese operation
US insurance giant The Chubb Corporation has received approval from the Chinese authorities to turn its Federal Insurance Company from a Shanghai branch to a wholly owned insurance subsidiary.
22 October 2007
AHJ adds to Scandinavian portfolio
London market broker Alwen Hough Johnson Ltd (AHJ) has increased its Scandinavian presence by taking a stake in Norwegian firm Nilsen Brokers Re AS.
22 October 2007
ILS activity resumes with Munich Re $260mn quake cat bond launch
Munich Re has launched a $260mn cat bond to cover earthquake risk for the East Japan Railway Company (EJRC) in a sign that insurance linked securities (ILS) demand remains undiminished by recent credit markets turmoil.
22 October 2007
Ruling chokes pleural plaques asbestos compensation
The House of Lords upheld a Court of Appeal decision last week, ruling that employers are not liable to compensate employees who develop symptomless pleural plaques after exposure to asbestos.
22 October 2007
Class action ruling could open floodgates to E&O litigation
A US securities-law case, currently being heard in the Supreme Court "could be the legal equivalent of Hurricane Katrina" for professional liability insurers, according to William Wilt, analyst at Morgan Stanley.
22 October 2007
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