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  • UK regulator, the Financial Services Authority (FSA), has banned David King, the president of the unauthorised insurer CIC, from working in regulated companies for life.
  • Royal & Sun Alliance Insurance Group plc (R&SA) has entered into an agreement to acquire 50 percent of a company giving it access the fast growing Eastern European and Russian insurance markets.
  • US (re)insurer Liberty Mutual has continued its series of hurricane linked cat bonds with the launch of the $150mn Mystic Re II.
  • Two subsidiaries of Paris Re, the former reinsurance arm of AXA Re, have been assigned an initial rating of A- by Standard & Poor's (S&P).
  • The long-running commissions dispute which saw RK Carvill sue its former client XL Capital and a number of reinsurers was settled at the end of last month when a US court ruled in favour of the reinsurance broker.
  • Lloyd's has taken a significant hit on its Central Fund dispute after settling with Benfield Group and Aon Ltd, but will be relieved the long-running dispute is over.
  • Ex-Wellington underwriters to head Mitsui aviation; Novae launches into the UK property market; Heritage to add international treaty team; Lloyd’s to raise up to £500mn in debt issue; FSA bans King...
  • The latest from the legacy market
  • Gen Re's action is the latest in a series of legal scraps over fac reinsurance teams reflecting a recent increased interest in the area from brokers and underwriters looking for new growth opportunities in a softening market.
  • Towergate has very effectively managed its tight-knit relationship with a small panel of insurers, including Royal & Sun Alliance, AXA and Norwich Union, and its control over a vast amount of SME business...