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  • 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.
  • Broking giant Aon Corp is being sued by a long-term client, Caterpillar Inc on charges of fraud and anti-competitive behaviour.
  • 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.
  • 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
  • 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.
  • 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.
  • London market broker Alwen Hough Johnson Ltd (AHJ) has increased its Scandinavian presence by taking a stake in Norwegian firm Nilsen Brokers Re AS.
  • 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.
  • 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.
  • 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.