September 2009/3

Lloyd's insurer Amlin is set to become a partner to the Heineken Cup and the European Challenge Cup...

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.

French (re)insurer Scor is seeking to reduce its 97-98 percent near-term combined ratio by saving on its retrocession purchase, according to a recent analyst report.

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".

The industry is effectively two-thirds of the way though the worst of the North Atlantic hurricane season, provoking a leading (re)insurance analyst to suggest the prospect of better-than-expected earnings this year.

Scottish judge Lord Glennie's comments on the fundamental issue of fairness effectively halted the Scottish Lion solvent scheme of arrangement and could block progress on schemes currently in the pipeline.

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

Markel announces $350mn debt offering; QBE acquires Cigna portfolio; JLT partners with Beazley on E&O programme...

Marsh has acquired International Advisory Services (IAS) - Bermuda's largest independent manager of captive and third party insurance companies - adding over 150 captives to its portfolio.

The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) saw an emerging divide between the proposed directive and separate plans for a new...

UK regulator the Financial Services Authority (FSA) has highlighted a trend of "significant weaknesses" in due diligence and monitoring of third-party relationships and payments across the commercial insurance broker industry.

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

Bermuda is set to lose another major broker, with the news that the Willis board has decided to change the domicile of its group holding company from Bermuda to Ireland.

The IPC property catastrophe book is to be re-underwritten, but its new owner Validus Holdings wants to take on the "vast majority" of the business it has acquired, according to Conan Ward, CEO of Validus Re.

As US regulatory authorities confirm discussions to "level the playing field" over contingent commissions, it has been estimated that MMC could earn more than $250mn a year if the controversial arrangements are allowed to return.

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.

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

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 Hartford Financial Services Group has hired former American International Group (AIG) senior executive Stephen Whelan to replenish its recently raided financial products division, along with 18 other new appointments, The Insurance Insider has learned

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

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

Ratings agency Fitch has changed its outlook on Novae Group's UK FSA-authorised insurance subsidiary, Novae Insurance Company Ltd (NICL), from stable to negative.