January 2008/5

JRG Reinsurance Company has become the latest reinsurer to launch on Bermuda, with $250mn of capital to write working layer reinsurance business for US specialty insurers.

Zurich Financial Services Group has bought Turkish general insurer TEB Sigorta from TEB Mali Yatirimlar.

London-based reinsurance agency ForestRe Ltd has reached an agreement with four Lloyd's syndicates to underwrite the world's only forestry-focused portfolio.

Chinese insurer Ping An Insurance Co has revealed plans to raise up to $22bn in a public offering in order to fund mergers and acquisitions.

Further evidence of the softening market came with news that average US insurance renewal rates were down 12 percent in the fourth quarter, according to the US commercial insurance brokers association...

Global broker Marsh has appointed Carrick Lambert as managing director of the Europe, Middle East and Asia (EMEA) financial institutions industry practice.

US insurance giant American International Group (AIG) has announced five appointments in an executive reshuffle.

Aon Re Global Fac has appointed Oliver Schofield as head of global strategy and a member of its executive committee.

Robert Brown has been appointed head of Aon's UK mid market business following the exit of John Thornton - a role in a competitive sector...

Andrew Lothian, a senior member of Benfield Group's accident and health specialty team, is set to leave the reinsurance broker.

January has continued to be a record month for derivatives trading platform Insurance Futures Exchange Services (IFEX), with a further 701 lots, or $7,010,000 of (re)insurance limit, traded last week.

After stop-start talks, specialist UK broker THB Group plc has finally completed its £8.5mn acquisition of PWS Holdings plc's Lloyd's business and overseas interests.