January 2008/1

Recently listed UK run-off firm Randall & Quilter Investment Holdings (R&Q) has appointed ex-Wellington executive John O'Neill as chief operating officer of its UK Insurance Services Division.

Fast growing QBE is to expand its US presence after signing an agreement to acquire North Pointe Holdings Corporation for $146mn.

The new version of the German Insurance Contract Law came into force on 1 January 2008 placing more emphasis on consumer rights and information.

The new reinsurance rules introduced in Brazil, which have encouraged Lloyd's to plan an admitted carrier, should boost the region's growth, according to Fitch Ratings.

Island Heritage Holdings Ltd, the Cayman Islands-based insurer that is controlled by Flagstone Re has appointed Garth Macdonald as CEO.

US financial services firm State Street Corp's decision to establish a $618mn fund to cover sub-prime related lawsuits has set alarm bells ringing among directors' and officers' (D&O) insurers offering defence costs coverage.

US broker Arthur J Gallagher & Co has acquired AVRECO, a managing general agent and wholesale insurance broker based in Chicago from The Park Group.

US insurer Chubb Corp has confirmed it will redomicile its European holding company from Brussels to London, as revealed by The Insurance Insider last year.

Bermudian insurer Ironshore Inc has continued to grow its US platform with the acquisition of an excess and surplus lines shell from TIG Insurance Company, a Fairfax Financial Holdings Ltd subsidiary in run-off.

Another equity analyst increased the pressure on reinsurance intermediary Benfield Group's share price by lowering its forecasts and reiterating a SELL recommendation on the company’s stock last week.

Insurance specialists Edwards Angell Palmer & Dodge LLP (EAPD) and London-based Kendall Freeman have completed their merger.

One of Converium Holding AG's key business partners when it attempted to fend off SCOR SE's early advances in what became a successful takeover has shaken hands with the French reinsurer over a 10-year agreement.