February 2007/5

Converium has laid out a “road map” to generate a sustainable return on equity (ROE) of 14 percent by 2009 as it continues to fend off advances from rival SCOR.

Expanding US broker Hilb Rogal & Hobbs has seen Bear Stearns upgrade its forecast earnings on the back of its accelerating acquisition strategy.

Three of the world's largest (re)insurers, Munich Re, Swiss Re and Allianz, have signed a declaration issued by the Global Roundtable on Climate Change (GRCC).

The worst of the asbestos related difficulties faced by (re)insurers may now be in the past, according to a report by ratings agency Standard & Poor's (S&P).

Giant US IT provider IBM is to make its entry into the London market this year with the release of a system that will facilitate electronic risk placement.

Lloyd's insurer Amlin plc has become the first carrier in the London market to offer brokers the option of placing electronically through peer-to-peer systems or an electronic hub.

It is imperative that the insurance industry not only understands risk, but thinks of it as an opportunity, according to Aon president and CEO Greg Case.

Bermudian (re)insurer XL Capital has announced a new share repurchase programme authorising it to buy-back up to $1bn of its Class A ordinary shares from investors.

Struggling Bermudian life reinsurer Scottish Re Group said it was "disappointed" with its fourth quarter after unveiling a $233.8mn net loss.

2006 was a gold standard year for Bermudian reinsurer Platinum Underwriters Holdings as it joined its rivals in rebounding from the heavy losses of the previous year.

The acquisition of Hub International for $1.7bn ($1.8bn including debt) is further proof of investors' growing interest in the broking sector – and the rising multiples being charged by sellers.

Bermudian ACE's London market operation has poached Kiln underwriters Mark Adams and Richard Bayman to bolster ranks in its aviation division.