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  • US regulators turn attention to insurance brokers over the growing practice of charging volume commissions
  • Atrium managed Syndicate 570 has had its "A" (good) status affirmed by ratings agency Moody's, following an annual review of the syndicate's performance.
  • Bermudian (re)insurer XL Capital last week announced its entry into primary casualty for US corporations as part of its large account global P&C business.
  • Ratings agency AM Best has affirmed the financial strength rating of “A” (Excellent) of Swedish insurer Sirius. As reported in Insider Week No.118, the rating was placed under review by AM Best pending the proposed acquisition of Sirius by the White Mount
  • Motor insurer the Admiral Group has said it is aiming for a £600mn flotation this autumn.
  • WTC leaseholder Silverstein Properties and insurers led by reinsurance giant Swiss Re are litigating over which contractual wordings the various parties used in placing the building’s insurance cover.
  • Recent hopes for the resurrection of plans for US asbestos tort reform appear to have run aground after a revised bill failed to get the required number of votes to be put forward for consideration in the Senate.
  • The expansion into Continental Europe by Lloyd’s insurer Liberty Syndicates was boosted last week with the launch of a service company which will help it target new reinsurance business.
  • Assured Guaranty, the guarantee business unit of insurer ACE, has said it priced 49 million shares at $18 per share in its recent IPO.
  • Premiums for US commercial property insurance have fallen by an average of 10 percent in the past year, according to broker Aon's first US property report for 2004.