February 2008/3

Tony Holt, the respected industry veteran and head of Amlin's underwriting has taken a leave of absence from the Lloyd's insurer because of ill-health.

Lloyd's (re)insurer Beazley Group has set up a new division focusing on political and contingency risks.

Aon Corp unveiled a major restructuring last week which saw the launch of a new global insurance business led by two of the firm's frontline generals, Steve McGill, the head of the firm's Americas division, and Ted Devine...

Bermudian Allied World Assurance Company Holdings (AWAC) posted record 2007 net income of $469.2mn, edging ahead of the $442.8mn booked in the prior year as it reported its first results since buying out founding shareholder American International Group..

German reinsurance giant Hannover Re has hailed the 1 January renewals a success, despite falling rates.

The jury in the trial of five former senior US industry executives charged with transacting an allegedly sham finite reinsurance contract between the two firms is due to retire shortly.

The US Securities and Exchange Commission (SEC) plans to turn its sights to the hedge fund community as a target for future investigations into business practices, a spokesman said last week.

Broking giant Willis Group disappointed analysts after recording weak organic growth despite strong earnings in the fourth quarter.

Analysts continue to focus on uncertainty surrounding Bermudian giant XL Capital as the troubled (re)insurer reported fourth quarter earnings in line with last month's sub-prime loss fuelled profits warning.

UK regulator the Financial Services Authority (FSA) has published its 2008/9 business plan, with a focus on "heightened supervisory oversight" in areas such as firms' liquidity, adequacy of stress testing and "general operational preparedness for unexpect

Sustained profit performance bolstered by prior-year reserve releases emerged as a common theme among Bermudians reporting fourth quarter and full year 2007 results.

Omega Insurance Holdings Ltd became the latest Lloyd's insurer mentioned as a possible M&A target after confirming last week that it is in talks with a "number of parties" over a potential takeover.