April 2009/4

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.

Brit Insurance has emerged as the favourite candidate to acquire Lloyd's insurer Chaucer Insurance Holdings, after final bids were posted last week.

India's state-run National Insurance Corporation (NIC) has been unable to reinsure the contingency cover for this year's Indian Premier League (IPL) cricket tournament, currently taking place in South Africa, our sister publication Inside FAC reports.

Investors are poised for a hectic period of first quarter reporting from the global (re)insurance sector that will reveal whether the wide-scale pain inflicted on balance sheets in 2008 has eased in the early part of 2009.

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.

Lancashire Insurance Group is filling part of the growing void in Gulf of Mexico (GOM) windstorm cover by opening up its Octopus product to the wider market.

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).

The delicate structure of Aon Benfield’s London-based specialty casualty division has been determined with a new head, the former Gallagher Re CEO Simon Gander, The Insurance Insider can reveal.