August 2006/2

As exclusively revealed by our sister title Insider Week on 24 July, Aeolus Re is to become the latest reinsurer to begin operations on Bermuda following the raising of $500mn of capital.

Arrival of Sirocco Re and Timicuan Re takes post-Katrina sidecars over $3bn Lancashire Holdings became the latest company to launch a sidecar with Sirocco Re, a $95mn capitalised vehicle, which will write a quota share of the "Class of 2005"...

Jardine Lloyd Thompson Group plc (JLT) plans to overhaul its staff pension scheme in a bid to reduce the £146mn deficit which hangs over the company.

Island's (re)insurers enjoy soaring property cat rates in benign quarter, some KRW deterioration ACE sets scene with strong second quarter Bermudian-headquartered ACE Ltd revealed a strong second quarter on 25 July with net income...

Aon Corp has overtaken Marsh Inc to become the world's largest (re)insurance broker by brokerage revenues - at least that is the claim of the Chicago-headquartered broker.

Chubb records 'outstanding' quarter US insurer Chubb Corp reported an "outstanding" second quarter of 2006 with net income rising to $598mn, compared to $495mn for the prior-year period.