January 2006/4

Lloyd’s insurers Talbot Underwriting and Cathedral Underwriting have pointed out that they have not currently agreed to back the $250mn+ London market space consortium being supported by Liberty Syndicates, despite the suggestion to the contrary in...

World’s biggest insurer American International Group (AIG) announced last night (18 January) that its executive vice chairman and chief operating officer Donald Kanak is leaving the company at the end of the month, after less than a year in the role.

Swiss Re is planning to shed 10-15 percent of its workforce after completing the takeover of GE Insurance Solutions (GEIS) in a $7.6bn deal.

Seven changes are expected to Converium’s board of directors when shareholders meet in April for the company’s Annual General Meeting.

French reinsurer SCOR has hinted at a strong renewals season saying the group has improved its "positioning" by experiencing "satisfactory conditions on all the markets (excluding the United States) on which the Group operates".

World’s largest broker Marsh last week announced three senior appointments, including the capture of James Pierce Jr from rival JLT to chair its global marine and energy division.

Bermudian (re)insurer XL Capital has revealed another management change with the announcement Friday (13 January) that John Welch has been promoted to president and chief operating officer at its subsidiary XL Reinsurance America Inc (XLRA).

World’s largest insurance company American International Group (AIG) is expected to pay over $1bn in order to settle fraud investigations by US authorities, according to a report in the Wall Street Journal (WSJ). In May last year New York attorney...

On 1 January Richard Harrison was promoted to divisional managing director for marketing. Harrison was joined by executive director Malcolm Kingsbury, assistant director Mark Hennis, sales director Steve Horner and chief...

The Lloyd’s insurance specialist Numis Securities has upgraded its recommendations on seven London market insurers on the back of improved trading conditions following last year’s storm losses...

Bermudian reinsurer Everest Re announced yesterday (12 January) that it is raising pre-tax loss estimates from last year’s trio of hurricanes by $200mn to $1.2bn, net of reinstatements. The company now expects the after-tax...

Hurricane-hit US insurer Allstate has trebled the cost of its reinsurance programme from $200mn to $600mn as it changes strategy to prevent a repeat of 2005’s losses having the same negative impact.