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).

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.

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.

Marsh Inc has confirmed the launch of MaRI (Marsh Risk Innovations), a proprietary sidecar facility providing much needed US property catastrophe coverage.

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.

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.

Accounting firm Deloitte has reached a $149mn settlement with Parmalat over lawsuits accusing it of contributing to the dairy company’s 2003 collapse.

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.

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.

Michael Mendelowitz has become the latest partner from Barlow Lyde & Gilbert's (BLG) reinsurance and international risks team to leave the law firm, with the news that he is to head the contentious insurance...

Affirming Swiss Re's position as a leading distributor of risk to the capital markets is the Vita Capital III securitisation which saw the reinsurer recently issue $700mn of mortality catastrophe notes.