August 2005/4

Nicholas Gooding, head of underwriting review at Wellington Underwriting, has resigned from the Lloyd’s insurer, Insider Week can reveal.

George P Reeth, president of Willis North America has resigned with immediate effect.

Lloyd’s insurer Illium Insurance will now expand its 2006 capacity through a consortium rather than a pre-emption, Insider Week can reveal.

The Cypriot jet that crashed in Greece Sunday (14 August) morning was insured in the London market for an estimated $30mn.

Troubled insurance giant American International Group (AIG) posted another “back to business” set of earnings last week which included a 50.1 percent increase in second quarter net income.

Specialist insurance services organisation Axiom Consulting has agreed a major deal to supply an outsourced accounting facility to London-based insurer Canopius.

Broker Willis has had its licence reinstated to accept new business in Guangzhou, China.

The London-based Cooper Gay Group have teamed up with Michael W Cashman to form a new reinsurance brokerage firm that will focus on the North American Treaty Reinsurance Brokerage market, Cooper, Gay and Cashman.