January 2007/4

Bermudian-domiciled (re)insurer is to launch a $30mn offshore energy account for its Lloyd’s Syndicate 958 this year, it announced in a trading statement yesterday (16 January).

ACE Tempest Re Group, part of ACE Limited, announced the establishment of ACE Tempest Re Canada on 8 January.

Run-off company Tawa Management Ltd, part of the Tawa Group, has announced that David Vaughan succeeded Philip Singer as its CEO on 1 January.

Mark Adams has joined "big four" accounting firm Deloitte as a partner in the Reorganisation Services practice where he will lead the insurance restructuring team.

Lloyd's broker RFIB Group announced the appointment of Bob Naudi as a consultant on 12 January as it continues to bolster its Middle East operations.

Casino mogul Steve Wynn has described an offer from Lloyd's insurers to settle his $54mn claim for a damaged Picasso masterpiece as "ridiculous" and taken underwriters to court.

Andrew Moss, the former Lloyd’s finance director, was the surprise choice to replace retiring Aviva chief executive Richard Harvey later this year.

Class of 2005 alumnus Lancashire Holdings Ltd has received a strong endorsement from analysts at stockbroker Numis Securities, who initiated coverage on the (re)insurer with a "BUY" recommendation.

Lloyd's based (re)insurer Amlin plc) that its Bermudian reinsurance operation has written $87mn of business this year, a 58 percent increase on the same point last year.

The Market Reform Group (MRG) has set a target of three years for the London market to electronically handle all risk submissions, claims and accounting and settlement.

US insurer State Farm Fire & Casualty Co has been ordered to pay $2.5mn in punitive damages to a couple in Mississippi by a jury.

Catlin Group Ltd says the integration of Wellington Underwriting has gone well with more business retained than expected and only a small number of unplanned resignations from key staff.