April 2009/4

Marsh is revamping its proposed facility with Berkshire Hathaway for Gulf of Mexico (GOM) windstorm risks in a bid to drum up interest, after receiving insufficient support from potential buyers to meet its planned launch date.

Lloyd's is set for a gain after making a tender to repurchase up to £100mn of the approximate £1.1bn in long-term corporate debt it manages - which in turn forms part of the central assets the Society holds on behalf of the market.

Short-term life business has never been a significant component of the Lloyd's mix and in recent years its share has shrunk even further.

UK independent broker Heath Lambert has lost another major account after rival firm AJ Gallagher (UK) captured French inter-dealer broker Viel & Cie (V&C), The Insurance Insider can reveal.

Lloyd's insurers will scour the UK Finance Bill 2009 upon publication (expected 30 April) for further details of how the tax deduction for equalisation reserves will be calculated.

German regulator BaFin has approved Augur Capital's EUR20mn acquisition of AIG subsidiary Deutsche Versicherung und Rückversicherungs-AG (Darag).

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...

Nick Jones, former head of Heritage's worldwide property division and lead underwriter on the insurer's Lloyd’s Syndicate 1200, is set to resurface in the Lloyd's market as the head of RenaissanceRe's (RenRe) planned new syndicate, according to market sou

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

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

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.

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