January 2007/6

Converium Holdings’ chief executive Inga Beale has continued to re-shape the resurgent company’s senior management with the appointment of Jakob Eugster from Benfield.

German insurance giant Allianz today (31 January) reported losses of up to EUR230mn caused by Windstorm Kyrill earlier this month.

Royal & Sun Alliance Insurance Group plc (R&SA) won a significant victory in its acrimonious battle with General Motors last week after a Michigan Circuit Court ruled...

Law firm Barlow Lyde & Gilbert (BLG) is to strengthen its five-partner aerospace team with Neil McGilchrist and associates Anna Anatolitou and Maria Galan joining next month from Gide Loyrette Nouel.

The London market has to be "willing to strive, to improve, to challenge, to change" if it wants "all roads in insurance to lead to London", according to Dan Glaser.

London market brokers are pushing for Lloyd’s to mandate change in a push to see all claims processed electronically by the end of the year.

Broking giant Aon Corp confirmed last week that it is to lose 550 jobs in its US operations as part of its ongoing efficiency drive.

A record capacity of £16.1bn for 2007, up 9 percent from last year’s £14.8bn, is proof that Lloyd’s remains an attractive proposition for investors, according to rating agency Standard & Poor’s (S&P).

David Margrett, the former group chief executive of Heath Lambert, is to take over as chairman and CEO of Willis Ltd, the broker's UK operation.

Benign catastrophe conditions contributed to US insurer The Hartford Financial Services Group reporting record fourth quarter net income of $783mn, or $2.42 a share, and full year 2006 net income of $2.7bn – a 21 percent increase on 2005.

Aon Corp unveiled a significant restructuring of its senior international management last week which saw the veteran London head Dennis Mahoney relocate to Bermuda.

Benfield Group has appointed Jeremy Goodman to a senior position in its facultative operations, as it attempts to fill the void left by the high-profile defection of Elliot Richardson and a number of his team to rival Aon last September.