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  • Enron's new directors will be able to purchase directors and officers insurance, after the US bankruptcy court gave permission for funds to be released to pay the premium earlier this month.
  • Tropical Cyclone Larry slammed into north-eastern Australia early today (20 March) causing damage to buildings and crops. Larry made landfall as Category 5 storm, the maximum grading, near the town of Innisfail, Queensland, and was downgraded to a...
  • Aspen Insurance Holdings Ltd has announced a $300mn share buyback, which will include a deal to repurchase around 4.1 million shares from one of its founding private equity backers, Candover Partners Ltd.
  • According to market sources, Aon placed a business travel lineslip into the London market which, in addition to covering employees while on corporate travel, had a terrorism rider extending coverage to all employees victim of a terrorism attack. Aon origi
  • Swiss Re has launched Vita Capital Ltd, the first ever bond securitising life reinsurance risk instead of retrocessional cover.
  • Equitas has continued its policy of dealing with its largest (re)insurance exposures to asbestos and environmental claims by reaching a $245mn comprehensive settlement of all outstanding policies with US property casualty insurer Travelers.
  • The US holding company of Bermudian (re)insurer Allied World Assurance Company Holdings (AWAC) has entered into an agreement to purchase Converium Insurance (North America).
  • Swiss giant Zurich Financial Services (ZFS) announced today (10 January 2005) that its subsidiary Centre Insurance Company (CIC) has reached a comprehensive settlement with the Californian Insurance Commissioner in a long running dispute over transactions
  • UK insurer Royal & Sun Alliance (R&SA) made a positive start to the year with a 30 percent rise in first quarter operating profits to £100mn.
  • US tax authority the Internal Revenue Service (IRS) has withdrawn its proposal to alter tax arrangements for US captive insurers.