September 2007/1

Sir Anthony Holland has been re-appointed as the Independent Complaints Commissioner for the Financial Services Authority (FSA) for a second term, which begins today (3 September).

London-based reinsurance broker Cooper Gay Group has bought the reinsurance and terrorism broking teams of CRS Group (London) plc.

Oxygen Holdings plc, the independent London-based intermediary, has acquired Lloyd’s broker Robertson Taylor.

Amlin plc threw down the gauntlet to Lloyd’s based insurers poised to unveil their interim results this week when it posted a 54 percent leap in first half pre-tax profits to £154mn.

Hurricane Felix strengthened to Category Five yesterday (2 September) as it continued on a path for Honduras and Belize.

Groupama UK has shrugged off competition to acquire the privately owned Lark Insurance Broking Group and continue the trend for UK insurers to acquire distribution channels, in a move that was swiftly followed by AXA's swoop for The Davis Group today

Beaufort Underwriting Agency is the latest in a line of Lloyd’s insurers to consider hoisting a “for sale” board, confirming the optimism for continued mergers and acquisitions (M&A) activity in the Society.

New York law firms LeBoeuf, Lamb, Greene & MacRae LLP and Dewey Ballantine announced that they have entered into a definitive agreement to merge, subject to partner approval last week.

Fitch Ratings has maintained its Stable rating Outlook on the global reinsurance sector despite “increasingly difficult market conditions”.

The head of Standard & Poor’s (S&P) has stepped down just weeks after reports that the European Commission is set to investigate the role of rating agencies in the ongoing sub-prime crisis.

Fairfax Financial Holdings controlled US reinsurer Odyssey Re has reached an out-of-court settlement in its litigation with Gulf Insurance Company, it announced last week.

Lloyd’s investment vehicle Hampden Underwriting plc (HUP) is pushing ahead with its floatation on the London Stock Exchange’s Alternative Investment Market (AIM) despite falling to raise the £15mn it planned.