April 2007/5

AM Best has confirmed the appointment of former Lloyd’s commercial director Roger Sellek, a development first reported in Insider Week No 271.

Xchanging has priced its proposed initial public offering (IPO) at 210 to 240 pence a share, effectively valuing the company at £500mn at the mid-point price.

PartnerRe has promoted Costas Miranthis to become deputy chief executive of its non-US operations, PartnerRe Global.

The failure of previous ventures has given the London market a certain notoriety for its inability to embrace new processes and methods of doing business. But is this fair? And, more importantly, are we finally seeing some real progress...

Reinsurance broker Benfield Group has successfully completed 98 percent of its 1/4 Japanese renewals electronically with the G6 group of Lloyd’s insurers.

Fast growing insurer Canopius Ltd is looking at options to expand its platform outside Lloyd’s, Insider Week can reveal.

Cat modelling firm Risk Management Solutions (RMS) has said the recent increases in Florida’s property values has exposed some cat bonds to a higher risk.

Japan’s improving economy has sparked an upgrade in the financial strength and debt ratings of Tokio Marine & Nichido Fire Insurance Co Ltd from AA- to AA.

Strong results prove SCOR bid undervalued, says Swiss rival

The changing of the guard among London’s mid-tier brokers continued last week after RFIB Group Ltd confirmed it had undertaken a management buy-out financed with private equity support.

Energy industry mutual Oil Insurance Ltd continued to see its membership decline as it confirmed last week that 13 more companies are set to leave.

US insurer Allstate Insurance has been ordered to pay $2.8mn to a Louisiana man whose home was destroyed by Hurricane Katrina.