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  • An end to contract uncertainty has been demanded by the director of the Financial Services Authority’s (FSA) retail firms division David Strachan, as he reserved the right to intervene in the market. Strachan said: “The FSA is absolutely committed...
  • Run-off services provider CMGL has launched a fraud investigations unit under the auspices of John Halls, who returns to the company after six years at Omni Whittington and Axiom.
  • Montpelier Re, PXRE and Quanta action rewarded with AM Best affirmations. While the “Class of 2005” sought ratings and finalised plans to start underwriting in time for 1/1 renewals, three of Bermuda’s existing players hardest hit by the devastating...
  • Deloitte & Touche, the audit firm embroiled in the controversial collapse of aviation reinsurer Fortress Re, has paid out around $100mn to Japanese insurer Sompo as part of a litigation settlement. Fortress Re collapsed after the 11 September...
  • Bermudian (re)insurer XL Capital announced 4 January a senior management reshuffle, as it steps up its long-term succession strategy to replace CEO Brian O’Hara. As part of the restructuring, James Veghte has been appointed...
  • Bermuda-based run-off company Castlewood Holdings, together with Shinsei Bank, has bought Aioi Insurance Company of Europe (Aioi Europe) for £62mn.
  • The increasing use of securitisation transactions by European life insurers for finance and risk transfer is set to keep on growing, according to a report by rating agency Standard & Poor’s (S&P).
  • There were some high hopes and bold predictions that post-Katrina renewals would be a time of plenty for (re)insurers with significant rate rises across all lines of business. But in a look at the state of the market The Insurance Insider has found...
  • 2005 was a terrific year for European insurance stocks, but investors should now prefer the life sector, over property & casualty, warned analysts at Merrill Lynch. Overall, the European insurance sector rose 31 percent in 2005, outperforming...
  • Proposals set to include differential charging of Central Fund in bid to reduce cost burden on members. Lloyd's is set to publish a radical blueprint for change later this month which will raise the prospect of a fundamental overhaul of the...