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.

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

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).

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...

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 twin impact of the financial markets turmoil and the recession are clear to see in first half figures for the US property and casualty industry, with both the top and bottom line heavily hit.

Omega Underwriting Agency Ltd has submitted a revised business plan to Lloyd's to increase income on its offshore energy account for the 2010 year.

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 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.