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  • London based broker Heath Lambert revealed last week that the consortium of private equity houses that have owned the majority of the group’s equity since its formation in 1999 have surrendered their holdings as part of a financial restructuring first ann
  • Pinault receives fine in return for immunity; Peyrelevade and five others left out in the cold
  • Lloyd’s Kinnect went live last week, with Willis taking inaugural honours to pass the first risk through the platform. The platform, which is funded by Lloyd's, enables brokers and underwriters to exchange data electronically.
  • UK general insurer Brit unveiled a positive trading statement last Thursday (18 December) as it highlighted “exceptionally positive” underwriting conditions and its minimal legacy exposures.
  • The parent of disgraced broker Stirling Cooke Brown has applied for Chapter 11 bankruptcy protection while revealing that its largest creditor is London law firm Richards Butler.
  • Swiss Re’s decision to stop writing a significant amount of Lloyd’s reinsurance business is unrelated to the Central Fund coverage dispute, the Zurich headquartered reinsurer said last week.
  • Transport and logistics mutual TT Club was upgraded by AM Best from B+ (good) to B++ (very good) last Friday (12 December) reflecting the insurer’s improved capital position and a reduction of risk from restructuring its reinsurance program.
  • Inhabitants of the Caribbean and the US East Coast should expect another active Atlantic hurricane season next year, weather experts have warned.
  • German insurer Allianz received another boost today as rating agency Fitch upped its long term rating from A- to A, and affirmed its financial strength ratings at A+.
  • But will preliminary settlement unravel like others before it? The long-running – some might say interminable – dispute between French and US authorities over Credit Lyonnais’ allegedly fraudulent 1991 takeover of failed California insurer Executive L