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 European Group announced a series of changes to its management personnel and structure on 10 January.

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.

German giant Munich Re is on track for 2006 after-tax profits of EUR3.2bn to EUR3.4bn, according to its chairman Nikolaus von Bomhard in an investor conference last week (9 January).

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.

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.

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

Enterprise Risk Management (ERM) will have a significant impact on cycle management, according to Mike Belfatti of consultancy Tillinghast's North American property/casualty ERM practice.

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.

After nine years at the Corporation, Lloyd’s director of Worldwide Markets, Julian James, is returning to the broking industry after announcing he is to join Lockton International.

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