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April 2009/4
  • Gras Savoye may look to other investors: reports
    Broking giant Willis Group’s French-based affiliate, Gras Savoye & Cie, is reportedly looking at alternative investment solutions over a put option purchased by the former in 1997, which could oblige it to increase its stake in France’s largest broker...
    28 April 2009
  • People Moves
    Max adds to Lloyd's platform with UW hires; Allied World bags Bermuda team from AIG; Brit recruits LM specialist for new role; RFIB appoints new IT head from Aon Benfield; Senior Marsh exec moves to JLT's Dubai office...
    27 April 2009
  • RGA net income slides on investment and variable annuity losses
    Reinsurance Group of America (RGA) saw its first quarter net income drop $8.2mn compared to Q1 2008 to $23.3mn.
    27 April 2009
  • Matanle takes CEO role at Lloyd's broker
    Former Marsh UK executive Stephen Matanle is returning to the market as head of Thompson Heath & Bond (THB) - which is the Lloyd's broker division of AIM-listed broker THB Group plc - as first revealed by The Insurance Insider.
    27 April 2009
  • Chubb stung by alternative investment losses as Q1 profits halve
    Chubb's income for first quarter 2009 almost halved compared to the same period last year - as net profits fell to $341mn compared to $664mn - after it was hit by losses on alternative investments and impairments totalling $266mn.
    27 April 2009
  • ABI demands new approach on UK flood risk
    The Association of British Insurers (ABI) is demanding a complete reassessment of the UK's flood risk, and in particular surface water drainage (SWD), as part of the consultation process for the draft flood and water management bill released by the govern
    27 April 2009
  • Platinum Q1 profits down by 19.3 percent
    Bermudian reinsurer Platinum Underwriters posted a 19.3 percent year-on-year decline in its first-quarter net income to $84.9mn.
    27 April 2009
  • Cat/investment losses and merger costs weigh on IPC
    IPC Holdings saw Q1 net income plummet from $86.8mn to $8.3mn - as investment losses, European winter storm Klaus and the Australian bushfires combined with higher expenses linked to its proposed Max Capital merger.
    27 April 2009
  • Non-FI D&O rates continue to soften
    Directors' and officers' (D&O) commercial rates remain sluggish despite fears of a claims onslaught from the economic crisis, according to a survey by global broker Willis.
    27 April 2009
  • Alea CEO to step down
    Alea Group chief executive Mark Cloutier will step down next year, the run-off (re)insurer confirmed last week (24 April).
    27 April 2009
  • Ruxley closure plan sanctioned
    City General - owned by run-off manager Ruxley Ventures and advised by law firm Clyde & Co - has received court approval for a solvent scheme of arrangement to wind down the (re)insurance policies transferred to it in 2007 from the London branch of Genera
    27 April 2009
  • Brit now in pole for £280mn Chaucer deal
    Brit Insurance has emerged as the favourite candidate to acquire Lloyd's insurer Chaucer Insurance Holdings, after final bids were posted last week.
    27 April 2009
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