Swiss Re

Swiss Re bullish on US casualty market hardening; reassures on reserves adequacy


After bolstering its US casualty reserves by $224mn at H1 2019, Swiss Re has reassured investors about the robustness of its long-tail reserves after a recent earnings quarter dominated by warnings over the industry’s exposure to rising tort inflation.

Stuart Forsyth

RSA hull head Forsyth fined £154K for secret payments to wife and avoiding tax


London-listed carrier RSA’s marine hull business leader Stuart Forsyth has been fined £154,498 ($200,315) by UK regulators the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) for allegedly transferring “excessive” amounts of his salary to his wife in a previous role in an effort to avoid tax.

US government. Washington

Tripra extension bill passed in US House, clears Senate committee


The US House of Representatives has passed a bill that would extend the federal terrorism risk insurance programme for seven years, with a companion bill in the Senate subsequently clearing a key committee.

Andrew Holderness – Paraline

Holderness re-emerges as Paraline senior adviser


Paraline Group – the holding company owned by activist investor group Elliot Management and Wand Partners – has appointed Andrew Holderness as a senior advisor, after he stepped down as global head of law firm Clyde Co’s corporate insurance group last month.

Guy Carpenter and Lockton

Resolution in Guy Carp-Lockton dispute looks close after talks extended


An update in Guy Carpenter’s dispute with three executives that left to launch the Lockton Global Re platform suggests meaningful progress has been made towards resolution.

FCA London market

FCA executive lambasts own staff for misconduct: report


Chief operating officer of the UK’s Financial Conduct Authority, Georgina Philippou, has written a scathing letter to employees after incidents of poor behaviour, from verbally abusing caterers to stealing company property.