September 2007/3

Swiss Re’s newly formed Luxembourg hub has received an AA- rating by Standard & Poor’s.

Former Independent Insurance deputy managing director Philip Condon has admitted to a court that he had concerns whether the company’s practices regarding reserves were “acceptable”.

(Re)insurance conglomerate Zurich Financial Services announced the launch of a Chinese distribution platform, Zurich Insurance Brokers (Beijing) Ltd, which will deliver general and life insurance products across China.

Benfield Group has become the latest reinsurance broker to respond to the growth in insurance linked securities with the creation of a new team to advise on non-traditional risk transfer solutions.

The National Association of Insurance Commissioners (NAIC) has proposed a rule change to the collateral requirements made on "alien" reinsurers.