April 2009/2

Bermuda-based Ironshore has tapped into the steady stream of talent leaving struggling insurance giant American International Group (AIG) with the appointment of Tim McAuliffe - former president of AIG Excess Casualty - as president of its specialty casua

Reinsurance broker Guy Carpenter has completed its acquisition of smaller rival broker John B Collins (Collins).

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.

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

Standard and Poor’s (S&P) has revised its outlook on French composite insurer Groupama to negative from stable, citing increased pressure on the company’s capital adequacy resulting from the sharp decline in market conditions.

Ratings agency Moody's has completed a hat-trick of negative agency actions against Warren Buffett-owned Berkshire Hathaway, by downgrading the financial strength ratings on its insurance subsidiaries from Aaa to Aa1.

UK FTSE 100 companies are purchasing 20 percent more directors’ and officers’ (D&O) insurance compared to 12 months ago, amid heightened concerns over litigation, shareholder action, and increased regulator scrutiny...

Rates for national US property-catastrophe reinsurance programmes rose by between 10 and 14 percent on a risk-adjusted basis at 1 April renewals, continuing the hardening trend seen in January’s renewals for catastrophe-exposed lines, according to broker

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.

Zurich Financial Services Group has named former Converium CEO Inga Beale as global chief underwriting officer in a management reshuffle.