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  • The £800mn pledged by the UK’s chancellor of the exchequer Alistair Darling in his pre-budget report has been criticised as insufficient by the insurance industry.
  • The jury in the trial of three former Independent Insurance executives was sent out to consider its verdict on 12 October.
  • Tysers has bucked the trend for small to mid-size London broker sales to larger rivals and private equity investors, after completing a management buyout transaction to secure its independence.
  • Hiscox Ltd has announced that it will not renew its $360mn sidecar Panther Re for the 2008 year, taking the tally of sidecar capacity to be run-off this year to over $1bn.
  • Trading on the recently launched Insurance Futures Exchange Services (IFEX) platform saw prices drop dramatically Friday (12 October) on 2007 event-linked futures contracts as traders anticipated a benign end to the hurricane season.
  • After spending more than two years behind bars after pleading guilty to offences that helped bring down Australian insurer HIH, Rodney Adler has been freed from prison.
  • Bermudian reinsurer Aspen Insurance Holdings Limited is to launch a global excess casualty underwriting unit based in Dublin.
  • Swiss Re run-off subsidiary, Pro Insurance Solutions Ltd has announced the formation of a US affiliate, PRO US, in a move which highlights the growing interest in the country’s discontinued business sector.
  • Two members of Bermudian energy mutual Oil Insurance Limited (OIL) have decided to “withdraw their policies” from January next year.
  • Bermudian start-up insurer Ironshore Inc has appointed former Lloyd’s CEO Ron Sandler to its board.