September 2009/4

The mighty Lloyd's Central Fund is facing exposure to the $269mn settlements that Willis made with US insurers Assurant and CNA to end litigation relating to their disastrous involvement in the PA LMX spirals of the mid-to-late nineties, The Insurance Ins

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.

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...

Lloyd's intends to establish a pilot scheme for claims handling in 2010 that will focus on segmentation, Lloyd's CEO Richard Ward told the inaugural meeting of the London Market Claims Council last week.

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.

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.

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.