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  • Joseph Brown has been re-appointed as chairman and CEO at beleagured monoline bond insurer MBIA Corp.
  • Benfield Group's efficiency drive has extended to the firm's prestigious pension scheme, with the company launching a consultation on reducing its contributions.
  • One of the founders of energy specialist Torus Insurance Holdings, David Hope, has stepped down from his position as chief underwriting officer, The Insurance Insider can reveal.
  • Dublin-headquartered Cologne Reinsurance Ltd had its financial strength rating downgraded to A- from A++ by AM Best on 7 November. The ratings agency also downgraded the reinsurers credit rating to a- from aa+ and the firm remains under review with...
  • RSA will take a net loss from adverse UK weather conditions in June and July to date of roughly £50mn across its UK household, motor and commercial property portfolios
  • Tawa plc, the UK quoted run-off consolidator, has acquired the US firm PXRE Reinsurance Co (PXRE US) from parent Argo Group International Holdings Ltd in a $114mn transaction.
  • Figures released by the Minerals Management Service (MMS) have revealed the continuing impact of Hurricane Ivan on Gulf of Mexico oil and gas production.
  • 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.
  • UK insurance intermediary Towergate Partnership has denied reports that it is drafting in KPMG to advise on restructuring its £560mn in loans and debt facilities which it has used to fund an aggressive acquisition strategy.
  • American Financial Group, Inc. (AFG) is to become a significant capital provider to the Lloyd’s insurer Marketform Group Ltd, and its Syndicate 2468 in 2008, The Insurance Insider can reveal.