April 2008/4

(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.

Trading platform Insurance Futures Exchange Services (IFEX) has seen increased interest from Lloyd's managing agents in trading insurance linked derivatives.

Guy Carpenter & Co's newly formed M&A advisory team is understood to be leaving the reinsurance intermediary, following news of the firm's major restructuring first reported by The Insurance Insider earlier this month.

Cooper Gay, the London-headquartered broker currently in talks to buy Heath Lambert's wholesale operations, is mulling the possibility of an initial public offering (IPO) as early as this year, according to reports.

The start-up reinsurance intermediary Alpha Re has landed a $9mn property catastrophe account from larger rival Guy Carpenter & Co.

As an estimated 10,000 delegates converge on San Diego for 2008's Risk and Insurance Management Society's (RIMS) conference, fresh evidence has emerged of how brokers' revenue models are being transformed amid pressure from buyers and regulators.

Zurich Financial Services Group has grown its M&A practice through the opening of a London office.

Australian insurer QBE has increased its presence in Asia after establishing an underwriting operation in Singapore under the Lloyd's Asia license.

Peter Harmer, CEO of Aon UK, is to become chairman of the London Market Reform Group (MRG).

Everest Re Group saw profits plummet over $200mn in the first quarter of 2008 to $77.9mn compared to the same period last year.

The Travelers Companies Inc is that latest insurer to reveal it has been affected by an increase in catastrophe losses in 2008's first quarter results.

US insurer Safeco Corporation, which last week agreed to a takeover by rival Liberty Mutual, reported a drop in quarterly profits for the fifth consecutive quarter as higher cat losses and lower premium income took a toll.