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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 Florida Office of Insurance Regulation and the Bermuda Monetary Authority have signed a Memorandum of Understanding (MOU) committing both parties to work together to share information and co-ordinate regulatory activities.
  • Richard Ward, the chief executive of Lloyd’s of London, spoke out last week at the long-term damage being done to the insurance market by the UK's uncompetitive corporate tax regime.
  • (Re)insurer credit default swap (CDS) spreads have continued to narrow through September, reflecting renewed confidence in the sector...
  • The EU is poised to move from being regulator to supervisor, as the European Commission launches legislation to create a pan-European insurance authority.
  • Swiss Re has launched a three-year $250mn Mexican wind and earthquake cat bond, as first predicted by The Insurance Insider's sister publication, Trading Risk.
  • The wide-ranging strategic review being undertaken by Lloyd's will be presented to its ruling body, the Lloyd's Council, at its monthly meeting in February 2010, The Insurance Insider can reveal.
  • Nick Jones, the former Heritage Syndicate 1200 lead underwriter, is set to be reunited with Jim Hays, The Insurance Insider has learned.
  • 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.
  • Bermudian (re)insurer Ironshore's Specialty Casualty unit will now provide up to $25mn in capacity targeted to lead umbrella and excess layers...
  • Amlin scrums down for three-year European sponsorship deal; Crawford and Kennedys launch latest claims handlers’ fraud guide...
  • 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.