September 2009/4

UK solicitors firms are seeing rate increases of between 10 and 20 percent at the 1 October renewal of their professional indemnity (PI) insurance contracts, according to leading brokers.

Canadian combine Fairfax Financial Holdings has begun its previously announced cash buy-out of the minority interests in its affiliated reinsurer Odyssey Re for $65 per share.

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.

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.

Lloyd's (re)insurer Kiln is to enter the space market after appointing Laurent Esquirol, former senior space underwriter at Scor, it emerged last week.

The ultimate success of American International Group (AIG)'s efforts to repay the outstanding $120.7bn balance on its $182bn US government bailout package remains uncertain...

The outgoing chief executive of Bowring Marsh, Mark Gregory, is to become CEO of Axis Global's specialty lines division, The Insurance Insider revealed last week.

Amlin scrums down for three-year European sponsorship deal; Crawford and Kennedys launch latest claims handlers’ fraud guide...

QBE appoints head of aviation in France; Clarke to head Amlin Singapore...

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.

Legacy vehicle Tawa plc sees a "great opportunity" in its new relationship with Swiss Re after acquiring the reinsurance giant's P&C legacy business, Pro Group.

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