April 2008/1

(Re)insurance broker Willis Group Holdings has announced the launch of a new tool which will allow clients to rate and compare carriers on standards such as claims settling and policy administration.

After 10 years at the company, Mike Sibthorpe, Brit Insurance CEO of global markets is to leave the firm, The Insurance Insider can reveal.

Lloyd's has become the first admitted reinsurer in Brazil, following deregulation of the country's reinsurance market.

Munich Re warned its first quarter profits are likely to be down on last year’s, following “major losses” in the first three months of 2008.

Lloyd’s insurer Omega has terminated talks with potential suitors interested in acquiring the company, the firm has announced.

At current pricing levels, it would take a $30-50bn ground-up property loss to reverse the slide in property cat reinsurance rates, according to Aon Re Global.

Insurance Australia Group (IAG) has rejected two merger proposals by rival QBE Insurance Group claiming the offer price is "inadequate".

The chairman and CEO of General Re Corp, Joseph Brandon has resigned.

Royal & SunAlliance (R&SA) has continued the disposal of its legacy business with the sale of two run-off portfolios in its Scandinavian subsidiary Codan to Wasa Run-Off.

Guy Carpenter & Co is preparing to cut around 13 percent of its global workforce, as the reinsurance intermediary responds to the tough market conditions, The Insurance Insider can reveal.

Analysts have welcomed reports that Russia’s largest bank Sberbank is considering buying Allianz unit Dresdner Bank’s investment banking business.

Berkshire Hathaway has bought one million shares in German giant Munich Re in the last six months, according to reports.