April 2007/5

QBE Limit has expanded its aviation team hiring Tony Ambrose as an underwriter for Syndicate 5555's Products and Airports team.

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

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

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

Bermudian reinsurer Arch Re has become the latest entrant into the burgeoning facultative reinsurance sector.

AXA has confirmed its acquisition of the consolidator Smart & Cook as the French insurance giant becomes one of the UK’s leading SME insurance intermediaries.

The key to effective capital management in a softening market is underwriting discipline, according to Catlin Group CEO and deputy chairman Stephen Catlin.

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

London market back-office service provider Xchanging Insurance Services (XIS) has announced it will significantly streamline the Lloyd’s Stage 2 policy wordings checks.

Bermuda-based life reinsurance specialist Scottish Re Group hopes to complete its $600mn rescue deal with two private equity firms within the next four weeks.

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...

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.