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February 2007/2

  • Fuelled by its acquisition of GE Insurance Solutions (GEIS), Swiss Re reported a 14 percent increase in business at the January renewals, the equivalent of SFr1.3bn.
  • Giant Swiss insurer Zurich Financial Services Group (ZFS) has announced Peter Eckert, the group’s chief operating officer, is to retire at the end of the month.
  • Endurance Specialty Holdings Ltd booked year-on-year premium growth in excess of 10 percent as it reported 2006 net profits of $498.1mn and record annual return on equity (ROE) of 25.6 percent.
  • Veteran London market figure Graham White was appointed as the new deputy chairman of Lloyd's by the Council of Lloyd's on 5 February.
  • Lloyd's insurer Beazley Group plc has announced that it will begin underwriting US commercial property business on an admitted basis.
  • Giant US insurer American International Group's (AIG) Lexington Insurance Co has increased its capacity of commercial domestic property terrorism insurance to $250mn from $100mn.
  • Market information and analysis firm Advisen Ltd has teamed up with messaging specialist Web Connectivity Ltd to launch, Easy Placement, a web-based software programme that enables brokers to...
  • "Gold-plated" reinsurance was key to the landmark $7bn deal between Equitas and Berkshire Hathaway according to Scott Moser, CEO of the Lloyd's run-off vehicle.
  • Insurance broker Willis Group Holdings revealed it would be reducing its headcount by an extra 100 people as it announced its annual profits had grown to $449mn last year, compared to $281mn in 2005.
  • Reinsurance broker Benfield Group has bolstered its Fac team again with the appointment of Michael Lazarus as head for Australia, New Zealand and South Africa.
  • Reinsurance broker Guy Carpenter has appointed Ajay Junnarkar as its chief financial officer as it seeks to "further its capital markets capabilities".
  • Besso Holdings Ltd, the London market broker which is set to announce a leap in profits for 2006, has appointed an adviser to consider its offers which could involve the sale of its shares.