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 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.

Insurance-linked securities pioneer Swiss Re has announced the final pricing of EURIBOR plus 360 basis points on its EUR200mn French windstorm cat bond, issued on behalf of French mutual Groupama SA.

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.

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.

Marsh Inc made its second management reshuffle in a matter of months last week as new CEO Dan Glaser stamped his authority on the ailing broking giant with an organisational restructure to "improve efficiencies".

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

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.

The continuing trend for softening rates in the reinsurance market during the 1 January renewals was underpinned by the lack of catastrophe losses last year, according to reinsurance brokers Guy Carpenter & Co and Willis Re.

Swiss-headquartered reinsurer Glacier Re is poised to launch a London underwriting platform later this year to write insurance business, Insider Week can reveal.

US insurer HCC Insurance Holdings Inc has confirmed the launch of a new wholly aligned Lloyd's syndicate to write business on behalf of its latest acquisition, Indiana-based MultiNational Underwriters (MNU).