April 2009/4

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...

AIR launches industrial and energy cat risk service; Iprism targets £25mn after deal signings

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...

Reinsurance Group of America (RGA) saw its first quarter net income drop $8.2mn compared to Q1 2008 to $23.3mn.

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.

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.

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

Recently launched European catastrophe information aggregator Perils has appointed Glacier Group executive Dr Luzi Hitz as CEO.

Bermudian reinsurer Platinum Underwriters posted a 19.3 percent year-on-year decline in its first-quarter net income to $84.9mn.

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.

American International Group (AIG) last week took steps to speed up the process of spinning off its general insurance operations as an independent entity, ahead of a potential initial public offering (IPO).

Munich Re has checked its bullish stance on rate prospects, as the reinsurer's chairman described a "satisfactory" first quarter while acknowledging that its optimism late last year was still to filter through to widespread rating improvements.