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  • A series of devastating tornadoes have ripped through Central Florida, killing at least 14 people and cutting power supplies to more than 40,000 residents.
  • Marsh & McLennan Companies, Inc (MMC) has confirmed the much anticipated sale of its asset management arm Putnam Investments to Power Financial Corporation subsidiary Great-West Lifeco Inc for $3.9bn in cash.
  • Broker PWS Holdings is under investigation by the Serious Fraud Office (SFO) over an alleged $1.6mn Costa Rican reinsurance fraud.
  • German insurance giant Allianz today (31 January) reported losses of up to EUR230mn caused by Windstorm Kyrill earlier this month.
  • Bermudian ACE Ltd became the latest (re)insurer to benefit from an unexpectedly benign catastrophe environment as it revealed record 2006 operating income of $2.35bn.
  • Converium Holdings’ chief executive Inga Beale has continued to re-shape the resurgent company’s senior management with the appointment of Jakob Eugster from Benfield.
  • “Class of 2005” (re)insurer Lancashire Holdings has stated it will not be affected by the increased underwriting capacity of the Florida Hurricane Catastrophe Fund, as it does not write property cat treaty in the state...
  • Hannover Re is set to enter a landmark financial transaction that will lay off credit risk on its reinsurance recoverables to the capital markets, a move first revealed by The Insurance Insider in January last year.
  • Law firm Barlow Lyde & Gilbert (BLG) is to strengthen its five-partner aerospace team with Neil McGilchrist and associates Anna Anatolitou and Maria Galan joining next month from Gide Loyrette Nouel.
  • The London market has to be "willing to strive, to improve, to challenge, to change" if it wants "all roads in insurance to lead to London", according to Dan Glaser.