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  • ACE Tempest Re Group, part of ACE Limited, announced the establishment of ACE Tempest Re Canada on 8 January.
  • Lloyd's broker RFIB Group announced the appointment of Bob Naudi as a consultant on 12 January as it continues to bolster its Middle East operations.
  • Casino mogul Steve Wynn has described an offer from Lloyd's insurers to settle his $54mn claim for a damaged Picasso masterpiece as "ridiculous" and taken underwriters to court.
  • Lloyd's based (re)insurer Amlin plc) that its Bermudian reinsurance operation has written $87mn of business this year, a 58 percent increase on the same point last year.
  • German giant Munich Re is on track for 2006 after-tax profits of EUR3.2bn to EUR3.4bn, according to its chairman Nikolaus von Bomhard in an investor conference last week (9 January).
  • CastlePoint Holdings Ltd, the Bermuda based (re)insurer formed last year by the US investment bank Friedman Billings Ramsey, plans to list on Nasdaq through an initial public offering (IPO).
  • Our monthly column keeping check on US and EU legal and regulatory developments
  • AM Best downgraded the financial strength rating of General Insurance Corp of India to A- from A.
  • The growing focus on Enterprise Risk Management (ERM) was again brought to the fore when it was cited by Standard & Poor’s (S&P) as a reason for Munich Re’s upgrade to AA- last month.
  • German firm is third major European reinsurer to be downgraded below A- in recent years