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  • Lloyd’s Central Fund contributions and subscriptions charges will be held steady for 2007, but the Society believes it will be in a position to cut the Central Fund levy for 2008 – a year ahead of original forecasts.
  • Bermudian reinsurer Allied World Assurance Company Holdings (AWAC) announced today (12 July) that shares for its IPO will be priced at $34.
  • Fitch Ratings affirmed and then removed its insurer financial strength rating of CCC+ on the ACE American Reinsurance Company (AARe).
  • The far-reaching affects of Hurricane Katrina were felt in the UK’s financial services industry last year, where net exports dropped for the first time in a decade.
  • Shaun Flynn, the recently departed managing director of AM Best International, has joined consultancy Towers Perrin as senior vice president of Reinsurance.
  • Insurance Capital Partners – a Lloyd’s investment fund launched last year – plans to float on the London Stock Exchange’s Alternative Investment Market (AIM) later this month in a bid to raise £100mn.
  • Swiss Re - the world's largest reinsurer - will lose 2000 jobs following its acquisition of GE Insurance Solutions. The reinsurer said it has already reduced 250 positions, many at “management level”.
  • Former Lloyd's underwriter and insurance arbitrator Mel Goddard is to join the Lloyd's Market Association (LMA) as the Director of Underwriting.
  • Former American International group (AIG) chairman, Maurice "Hank" Greenberg has called the restatement of four years of the firm's earnings was "flawed".
  • Illinois' Lisa Madigan became the third state attorney-general to increase the pressure on industry giant Liberty Mutual Inc when it filed a lawsuit against the firm alleging unlawful behaviour in relation to undisclosed contingent commissions...