April 2009/1

RenaissanceRe (RenRe) has become the latest international underwriter to secure a Lloyd's platform after receiving approval from the Franchise Board for Syndicate 1458, in a move first revealed by The Insurance Insider.

European reinsurer Scor said first quarter profit declined 30 percent to EUR93mn as investment writedowns combined with the impact of European Windstorm Klaus.

A strong performance from Willis Group's international and London market operations ensured a healthy 29.8 percent adjusted operating margin for the global (re)insurance broker in its first quarter.

Argo International Holdings is set to unveil Julian Enoizi – the former head of CNA’s European operations – as CEO of its Lloyd’s arm Heritage Managing Agency Ltd, The Insurance Insider can reveal.

UK regulator the Financial Services Authority (FSA) has approved the launch of Reale Insurance Brokers Limited – a new broker in the Market Insurance Brokers (MIB) group of companies.

American International Group (AIG) has moved to calm the choppy waters around the unwinding of its doomed financial products business (AIGFP) by persuading a senior executive at the division to reverse his resignation in order to avert potential legal act

Novae Group – the Lloyd's insurer which withdrew from merger discussions with rival Chaucer Insurance Holdings earlier this year – increased its revenues by almost a third, posted another impressive return from investments and said it was enjoying rate ri

ACE Ltd and Arch Capital Group Ltd reported contrasting Q1s, with the former posting a 50 percent rise in net profits that it said was aided by firming rates and the latter seeing net profits dip 26 percent as a result of impairments on its investment por

WR Berkley has confirmed the launch of its Lloyd's platform headed by former Brit Insurance executive Mike Sibthorpe, a move first revealed by The Insurance Insider.

Willis Group is not in dispute with shareholders in its affiliate Gras Savoye & Cie over the valuation of the French broker.

What looks to have been a benign first quarter for losses helped a trio of Bermudian (re)insurers book relatively solid underlying results, but was not enough to spare US insurer WR Berkley from falling to a net loss for the period.

XL Capital saw its revenues fall sharply and earnings dented in the first quarter but said a “back to basics” approach was beginning to pay dividends with a healthy 93 percent combined ratio in its core P&C operations (93.6 percent 1Q, 2008).