January 2007/5

London-based reinsurance broker Cooper Gay has announced that Jeremy Goodman, the managing director of its US-based Cooper Gay Steele reinsurance broking operation, will leave the company for personal reasons.

The CEO of the UK regulator, the Financial Services Authority (FSA), announced he would be stepping down in July this year in an unexpected announcement on 16 January.

Catastrophe risk modelling firm AIR Worldwide has estimated insured losses from windstorm Kyrill will be $5.2-10.4bn.

Insured US catastrophe losses were down to $9bn last year, according to figures published by ISO’s Property Claim Services (PCS) on 16 January.

Hannover Re has re-visited the capital markets in order to boost its Kaith Re "K5" securitisation to $520mn and expand its underwriting capacity.

Bermudian (re)insurer White Mountains Insurance Group announced today (22 January) that Ray Barrette has taken over from Steve Fass as CEO and Jack Byrne as chairman.

Swiss Re, the Zurich headquartered reinsurer which is pioneering the industry’s collaboration with the capital markets, has called on the creation of a new index for European natural catastrophes.

UK insurer Royal & Sun Alliance Group plc's (R&SA) attempt to cut itself free from its US run-off business was heard at a public meeting last Friday (19 January).

Run-off services provider CMGL announced on 19 January that it has been appointed to provide claims management services for ICM Syndicate 4242.

The preparatory hearing of the ‘Independent Three’ former directors of the collapsed UK insurer Independent Insurance took place at Southwark Crown Court this morning (22 January).

Law firm Barlow Lyde & Gilbert (BLG) announced today that insurance dispute specialist Maurice Kenton will join the firm as a partner.

A group of reinsurers which have been joined to Allianz over legal proceedings regarding a controversial North Korean claim have refused to acknowledge the lawsuit.