September 2009/3

Eighty-one percent of UK insurance executives think that if the UK government fails to improve tax competitiveness there will be a drop in the number of insurance firms based in Britain.

After Lloyd's (re)insurers submitted their 2010 business plans to the franchise department last week, the 300 year-old market will begin next year at its largest ever size in terms of capacity.

Lord Peter Levene, chairman of Lloyd's, has lambasted those who question whether the competitiveness of the City should take precedence in the UK, insisting it is "an absolute priority".

Liberty Syndicates is one of the insurers exposed to the Willis errors and omissions (E&O) insurance relating to multi-million dollar settlements for the infamous London PA reinsurance spiral of the mid-to-late 1990s, The Insurance Insider has learned.

Run-off (re)insurer Alea Group has amalgamated its European and Bermudian subsidiaries and redomiciled Alea Europe from Switzerland into Bermuda.

The latest version of changes proposed by US insurance regulators' club the National Association of Insurance Commissioners (NAIC) are set to be voted upon at the association's fall meeting this week [24 September].

The US and UK regulatory authorities have announced that they are collaborating on reporting and other regulatory requirements for key financial market participants.

Warren Buffett passed on the chance to buy a "very large" property and casualty (P&C) operation valued at some $25bn from American International Group (AIG), just as the financial crisis was breaking this time last year.

The Lloyd's second syndicate capacity auction took place last week, with average prices up once again on last year.

The $130mn settlement that Willis Group made with CNA on the 11 September effectively ends another chapter in the internecine conflict...

Nick Jones, the former head of Heritage’s worldwide property division and lead underwriter of the (re)insurer's Lloyd's Syndicate 1200, is to rejoin the Lloyd's market as the active underwriter of a new Syndicate 1969, The Insurance Insider has learned

Shipley to head Equitas; Torus builds out construction team; Housley leaves Axis; WR Berkley establishes oil and gas specialty unit; Marsh extends Duperreault contract