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January 2006/4

  • Insurance giant ZFS is mulling over a significant German acquisition, according to sources. The Zurich-headquartered firm – which has been widely tipped to participate in M&A activity this year – is thought to be considering a mid-tier...
  • The senior management team of Integro Ltd are in London later this month to formally celebrate the opening of the broker’s first European office.
  • 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).
  • Allied World Assurance Company’s (AWAC) move towards independence has cost it a ratings downgrade amid rumours that it is set to become the last of the so-called “Class of 2001” to go public with an IPO.
  • 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 International Underwriting Association (IUA) has set up a network for the project managers driving the London (re)insurance market towards contract certainty.
  • 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...
  • As exclusively revealed by our sister publication The Insurance Insider on Friday (13 January), Lloyd's has unveiled its vision for the marketplace, which may see differential charging for the Central Fund and a number of other significant reforms...
  • Run-off services provider CMGL has launched a fraud investigations unit under the auspices of John Halls, who returns to the company after six years at Omni Whittington and Axiom.
  • 2005 was a terrific year for European insurance stocks, but investors should now prefer the life sector, over property & casualty, warned analysts at Merrill Lynch.
  • US private equity house Hellman & Friedman LLC has withdrawn from the planned acquisition of Zurich Financial Services’ US auto arm Universal Underwriters following the discovery of regulatory irregularities.
  • CV Starr has taken another step towards separation from AIG as all eligible shares held by AIG executives were tendered to Starr in response to its buyout offer.