Regulation

Moody’s upgrades Scor

Moody's has announced that it has upgraded Scor's Insurance Financial Strength Rating (IFSR) to Baa2 from Baa3, Senior Debt to Baa3 from Ba2, and Subordinated Debt to Ba2 from Ba3. All ratings have a positive outlook.

Oxygen hires first agency team

Oxygen, the London market insurance intermediary company launched in October, has today announced details of the first team to join its agency business.

DLA/Rudnick merger creates legal giant

Law firms DLA and Piper Rudnick have announced a merger, making it the third largest law firm in the world by lawyers and the sixth largest by revenues, according to the latest AmLaw Global 100 rankings

IPCRe keeps A+ rating from AM Best

AM Best has affirmed the financial strength ratings of A+ (Superior) of IPCRe Group and its affiliated companies. Concurrently, AM Best has assigned issuer credit ratings of "aa-" to IPCRe (Bermuda) and IPCRe Europe (Ireland). All ratings have a stable…

FSA in compliance costs pledge

The Financial Services Authority has acknowledged the "disproportionate" cost of regulation to smaller firms, highlighted in the Government’s review of the Financial Services and Markets Act 2000.

ABI heralds sewer announcement

The Association of British Insurers today said the announcement by the water regulator, Ofwat, on water bills should lead to a significant reduction in the risk of sewer flooding.

Marsh spared further agony

Law firm Freshfields today announced it has found no evidence of bid-rigging in Marsh’s UK business following an investigation into the troubled broker.

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