September 2008/5

The Lloyd's sidecar vehicle, Managing Agency Partners (MAP) Syndicate 6103, intends to renew its capacity into 2009.

London-based company market (re)insurance trade body, the International Underwriting Association (IUA) has welcomed proposals for a new reinsurance regulatory framework agreed by the reinsurance task force of the National Association of Insurance Commissi

Lloyd's posted an interim profit before tax of £949mn for the six month period ending 30 June 2008, a fall of 47 percent against 2007's record figure of £1.8bn.

Swiss Re has revealed lower-than-feared write-downs from its exposures to structured credit default swaps (CDS) as it posted mark-to-market losses of SFr245mn in July-August in its CDS portfolio and estimated further write-downs in September (up to the 19

American International Group Inc (AIG) expects to have a "for sale" list of assets drawn up by the end of this week (3 October), and may have executed transactions in that time frame, according to new chairman and CEO Edward Liddy.

Validus Holdings Ltd is in talks to buy Transatlantic Re from distressed insurance giant American International Group (AIG), The Insurance Insider understands.

Both sides in the US taxation debate were quick to respond last week to proposed legislation aimed at levelling the playing field between foreign-owned and domestic carriers writing business in the world's biggest insurance market.

Property Claims Services (PCS) is due to publish an initial loss estimate for Hurricane Ike's onshore damage later this week - and the evidence is increasingly pointing to a $10bn+ loss.

American International Group Inc (AIG) drew down $28bn from the $85bn US government bail-out loan facility before it announced it had signed the agreement last week.

Western governments are continuing their rescue of financial institutions with the EUR11.2bn bail-out of Benelux banking and insurance giant Fortis yesterday and confirmation of the nationalisation of UK mortgage lender Bradford & Bingley (B&B).

American International Group Inc (AIG) subsidiary Lexington Insurance Company moved to reassure nervous policyholders and brokers last week by announcing on 26 September that it had arranged contingent property reinsurance cover from Berkshire Hathaway, i