April 2009/2

One of the founders of energy specialist Torus Insurance Holdings, David Hope, has stepped down from his position as chief underwriting officer, The Insurance Insider can reveal.

Insured losses from last week’s earthquake in the Abruzzo region of Italy are likely to be between EUR200mn and EUR400mn, according to risk modeling agency AIR Worldwide.

A raft of proposals are being considered by the Florida legislature to address a funding crisis at its cat fund that would leave the state in dire financial straits if hit by a major hurricane this year.

The momentum behind hardening in the airline insurance market has seen average lead hull and liability rate rises of 5 percent in 2009, according to a sector update from Aon.

Class of 2005 start-up Lancashire Holdings said last week it expects to benefit from a surge in demand for Gulf of Mexico (GOM) energy capacity in the second quarter, after deliberately holding back capacity in the first three months.

The furore over bonuses at American International Group’s decimated financial products (AIGFP) unit may have been counterproductive, according to its head Gerry Pasciucco.

New cat bond sponsor Assurant Inc has launched a $150mn US wind transaction, while Allianz has increased the size of its Blue Fin II cat bond to $180mn...

US life insurers were handed a boost last week with reports that the Troubled Asset Relief Program (TARP) is to be officially extended to the beleaguered sector.

Aon unveils UK energy unit; Sagicor starts life at Lloyd's with Cassidy Davis hire; RSA acquires Irish Underwriter; Glacier opens new Swiss office; LPL expands into Caribbean.

Medniuk to retire as Global Aerospace CEO; AJ Gallagher appoints Pike to board; Chaucer hires US facultative property underwriter; Brit unveils Marine Hull Underwriter; Watson Wyatt promotes global practice director; Transatlantic board member steps down;

The European insurance and reinsurance federation, the CEA, has emphasised its support for re-considering Solvency II’s contentious group provision after the directive has been in place for three years.

Defections from the recently formed broking leviathan Aon Benfield have continued, with confirmation that the former head of Benfield’s Brussels office, Wim Raeymaekers, is joining the Benelux leadership team of rival broker Guy Carpenter