December 2005/2

William Dewsall, the former managing director of Hogarth Underwriting, is set to be appointed CEO of planned construction and liability insurer Gable Insurance AG. The new company is the result of the acquisition of Liechtenstein-based Duke Brown AG...

Rating agency AM Best is set to seal its stamp of authority on Bermuda’s “Class of 2005” (re)insurers when it publishes inaugural financial strength ratings for a number of the start-ups in the forthcoming days. At time of going to press, AM Best...

UK insurer Royal & Sun Alliance (R&SA) is facing damaging losses of up to $300mn net as a result of Mexican hurricane losses, The Insurance Insider understands. Hurricane Wilma slammed into the coast near Cancun in mid-October causing devastation to...

There were further developments at failed (re)insurer GoshawK last month as the London Stock Exchange-listed company continued to restructure to run-off, with a number of management changes, the announcement of a possible rights issue...

One of the largest, and most complicated, pool schemes of arrangements is in the offing after the manager of the London-based WFUM pools has written to policyholders to give them early notice of plans to propose a unified series of schemes...

If Swiss Re successfully completes its acquisition of GE’s (re)insurance operations next year, it seems likely it will come at a price, after the four leading rating agencies announced they may downgrade the reinsurance giant.

Swiss Re’s incoming CEO Jacques Aigrain highlighted the “remarkable fit” between his company and the (re)insurance operations of GE as the companies announced the deal last month.

If its proposed acquisition of GE Insurance Solutions concludes without a hitch next summer, Swiss Re will be able to proclaim itself as the biggest reinsurer on the planet, leapfrogging its rival, Munich Re.

Broking giant Aon has announced that it will be exploring alternatives for its property and casualty underwriting business as it continues to restructure.

UK listed broker Jardine Lloyd Thompson Group plc (JLT) has ended its year-long search for a new group chief executive with the internal appointment of chief operating officer Dominic Burke to the position.

The last month has seen (re)insurers’ storm losses continue to grow with the reporting of Hurricane Wilma exposures along with increased estimates for Hurricanes Katrina and Rita. When Lloyd’s updated its losses from the year’s destructive...

US politicians brought some relief to the (re)insurance industry on 18 November with the news that the US Senate had approved a bill to extend the Terrorism Risk Insurance Act (TRIA) for a further two years until the end of 2007.