August 2007/3

UK Bank HBOS plc has appointed the Aon UK chief operating officer Philip Gore-Randall to join the firm as part of a wider restructuring of its management.

Consultancy Towers Perrin has announced that its chairman, John Goldsmith, is to step down from the post and retire.

Forecaster Tropical Storm Risk (TSR) has lowered its latest North Atlantic hurricane season prediction from 40 percent above normal activity to 35 percent.

French (re)insurance giant AXA reported strong first half results for 2007 on a comparable basis with 2006, boosted further by the successful integration of Winterthur.

Despite increasing second quarter profits by 45 percent to SFr1.2bn over the prior-year, world’s largest reinsurer Swiss Re failed to impress analysts with its figures.

Marsh & McLennan Companies Inc (MMC) reported slow second quarter revenue growth in its broking division as new business wins were offset by the softening commercial (re)insurance market.

Bermudian Arch Capital Group has struck back at Gen Re in the latest round of the legal dispute over the departure of four Gen Re executives to Arch in April.

Despite signs earlier in the year that demand was drying up for the vehicles, a new model of sidecar is emerging, with the recent launch of Mont Gele Re and Emerson Re.

Insurance stocks remain volatile as a result of erratic trading on global financial markets, which saw most major indices plummet.

Broking giant Marsh is set to resume taking fees from insurers for some of the services it provides customers.

Bermudian firm White Mountains Re has appointed Dwight Evans, the former head of Arch Worldwide, as executive vice president.

The average premium per airline renewal this year has dropped $1mn in comparison with last year, according to a report by Aon Aviation.