January 2007/2

Lockton International, the rebranded former Alexander Forbes International business, has recruited Julian James, the director of Lloyd’s, Worldwide Markets.

UK insurer Brit Insurance Holdings plc joined the G6 group of Lloyd’s insurers on 8 January, taking up the vacancy created by Catlin Group’s £600mn takeover of Wellington Underwriting last year.

Integro Ltd, the "fresh start" commercial broker launched in the wake of Spitzer's attacks on the US insurance industry, has sponsored the launch of Ironshore Ltd, the latest insurer to land on Bermuda’s increasingly crowded shores.

Lloyd’s (re)insurers have been warned against diversification for “diversification’s sake” at the expense of their core businesses, by Tony Markel, president and chief operating officer of Markel Corporation.

As expected, S&P raised its financial strength ratings on Winterthur Swiss Insurance Co by two notches to A+ following the completion of its acquisition by AXA.

Bermuda’s ACE announced last week it had increased its presence in the South American life market with the acquisition of Peruvian company Altas Cumbres Life Insurance Company (ACLIC) from its Chilean parent Grupo Altas Cumbres (GAC).

Bermudian-headquartered (re)insurer Lancashire Holdings Ltd today (8 January) announced the appointment of John Melcon as CEO of the firm’s Middle East marketing operations.

JK Buckenham, Hyperion Insurance Group’s reinsurance broking arm, announced the arrival of former BMS International executive Ian Smith, last week.

Japanese insurer Mitsui Sumitomo Insurance (MSI) confirmed last week it had taken over management of its Syndicate 3210 from Lloyd’s insurer Chaucer Holdings Plc (Chaucer).

UK insurer Brit Insurance Holdings plc has said that it achieved 100 percent contract certainty on its 1 January 2007 outwards non-proportional reinsurance placements by the end of 2006.

Stockbroker Shore Capital has upgraded its 2006 forecasts on Hardy Underwriting following the benign hurricane season as it expects the Lloyd’s insurer to cash in on its strategy to underwrite US catastrophe exposed business without reinsurance protection

Castlewood Holdings Ltd, the Bermuda headquartered run-off acquisition and consultancy firm, bought Inter-Ocean Holdings Ltd for $57mn at the end of last year.