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January 2007/5
  • Tiner steps down from FSA
    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.
    22 January 2007
  • Hardy hints at Bermuda move
    Hardy Underwriting could become the next Lloyd’s insurer to re-locate to Bermuda and take advantage of its lower tax rates, according to its CEO.
    22 January 2007
  • Atrium enters space race
    Lloyd's insurer Atrium announced the launch of a Financial Services Authority-regulated company to underwrite space risks on 16 January.
    22 January 2007
  • Glaser elected SVP at AIG
    The board of US giant American International Group (AIG) has elected Dan Glaser as senior vice president, Foreign General Insurance.
    22 January 2007
  • Windsor MBO proposed at £33.7mn
    Senior management at Windsor plc, the UK-quoted insurance broker, made public the terms of their £33.7mn acquisition proposal for the firm this morning (22 January).
    22 January 2007
  • Class of 2005 confirm IPO plans
    Validus Holdings Ltd and Greenlight Capital Re Ltd became the third and fourth reinsurers formed after Hurricane Katrina to confirm plans for initial public offerings (IPO).
    22 January 2007
  • RAA pursues regulatory reform
    The Reinsurance Association of America (RAA) has called for comprehensive regulatory reform for reinsurance this year.
    22 January 2007
  • AXIS chairman changes role in restructure
    AXIS Insurance chairman Dennis Reding is to take up the position of chief operating officer at AXIS Capital as the Bermudian firm restructures.
    22 January 2007
  • Frankland takes over Guy Carp’s UK operations
    Nick Frankland, has been appointed as CEO of reinsurance broker Guy Carpenter’s UK operations following David Priebe’s return to the US as head of Global Specialty Group.
    22 January 2007
  • Reinsurers refuse to acknowledge North Korean claims
    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.
    22 January 2007
  • Florida set to expand state reinsurance cover
    After a weekend of heavy legislating, Florida’s lawmakers have hammered out a bill to provide rate reductions on homeowners’ insurance costs which is likely to have a significant impact on the US property & casualty industry.
    22 January 2007
  • CMGL to provide claims management for Syndicate 4242
    Run-off services provider CMGL announced on 19 January that it has been appointed to provide claims management services for ICM Syndicate 4242.
    22 January 2007
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