April 2015/5

The Internal Revenue Service (IRS) and US Treasury have released proposed regulations on the taxation of offshore (re)insurers and requested feedback on how best to measure carriers' capital requirements.

JLT boss Dominic Burke pressured the deputy CEO of Willis to sell its specie division before he launched a massive staff raid, poaching more than half of the big-three broker's 60-strong specie team, the UK High Court heard last week.

Ace CEO Evan Greenberg has dismissed the prospect of the carrier's captive reinsurance vehicle ABR Re writing business for external insurers for the next several years.

Patrick Gallagher, CEO of major broker AJ Gallagher, has shrugged off analysts' questions about recent senior defections from his firm's UK-headquartered international operations by predicting an uptick in revenue for 2015.

Aspen group CEO Chris O'Kane left analysts in no doubt about his feelings on recent staff departures after detailing the reasons for their exits on a conference call.

JLT Re North America has continued to add to its ranks with the hire of Alun Hansen from Guy Carpenter.

Former Aon Benfield and AQR Re executive Paul Karon has joined TigerRisk as vice chairman, The Insurance Insider revealed last week (21 April).

Cooper Gay Swett & Crawford is in talks with US Re about a potential deal to acquire a portion of the independent reinsurance broker's business, The Insurance Insider can reveal.

Reinsurance buyers are increasingly benefiting from so-called revenue sharing agreements (RSAs) with the brokers that place their programmes, The Insurance Insider understands.

Snowstorms in the eastern US were the most costly catastrophe event of the first quarter, causing $1.35bn in insured losses, according to Property Claim Services (PCS).

The trend towards centralisation of reinsurance buying among so-called "super-cedants" is not necessarily bad news for reinsurers, according to Allianz Re CEO Amer Ahmed.

Guy Carp goes digital; The Sage of Oz; GIC shaken by quake; Brit expands LatAm; Markel Re-structure; RMS hires Yau; Gras Savoye offer; Villers leaves Aspen; Charman hints; Willsmer joins Cunningham Lindsey; NSW storms hit A$244mn; Rieß becomes Ergo chair; Gibraltar debuts ILS; Nexus appoints Rouse; QBE promotes O'Farrell; XL-Catlin May Day; Fairfield's Exin adventure; Skuld hires Aon exec in Singapore; Chilean stake for AJG; Hester salary questioned; Fitch withdraws RIC rating; Drones for crop los