September 2009/4

Jeffrey Greenberg’s private equity firm Aquiline Capital Partners has made an undisclosed investment in Rod Fox-headed TigerRisk to support the US reinsurance broker’s continued growth.

The global aviation insurance market is facing a challenging outlook as the historically significant airline renewal milestone of 1 October approaches this week.

According to Lloyd's director of finance, risk management, and operations, Luke Savage, the outlook for sustaining strong investment returns remains dim for the foreseeable future...

The on-off Lloyd's start-up TSM Agencies looks closer to reaching fruition after The Insurance Insider revealed that it has harnessed £10mn of underwriting capital from the Electrical Contractors' Association (ECA).

Rodd Todd - the senior vice president and property underwriter for Ironshore Insurance - has received Lloyd's approval to start writing an international direct and facultative (D&F) book for the group's Pembroke Lloyd's Syndicate.

The EU is poised to move from being regulator to supervisor, as the European Commission launches legislation to create a pan-European insurance authority.

The Organisation for Economic Co-operation and Development (OECD) has criticised the role played by ratings agencies in exacerbating the current global financial crisis and has called for reforms.

The representative body for the international (re)insurance industry in Ireland, the Dublin International Insurance & Management Association (DIMA), claimed its members had seen “another record year” of premium income growth in 2008...

Short-tail specialist Cathedral Underwriting has become the latest Lloyd's (re)insurer to rein in its 2010 expansion plans because market conditions are not as buoyant as initially expected.

The National Association of Insurance Commissioners' (NAIC) Government Relations Leadership Council (GRLC) used its autumn meeting last week to formally approve the Reinsurance Regulatory Modernization Act of 2009 for submission to the US Congress.

Willis Group's determination to reduce its debt burden encouraged Moody's to revise its outlook on the insurance broker from negative to stable last week.

(Re)insurer credit default swap (CDS) spreads have continued to narrow through September, reflecting renewed confidence in the sector...