January 2011/3

A trio of senior professional liability executives have left London market broker Miller to launch a new financial lines division at rival BMS, The Insurance Insider can reveal.

Bermudian reinsurer Everest Re has parted company with Tom Jackson, the general manager and chief underwriting officer (CUO) of its London branch office, The Insurance Insider has learned.

Munich Re subsidiary launches China JV; Former Chubb CFO Kelso to leave Aspen; Willis appoints Finex analytics head; QBE bolsters trade credit team

Two of the most costly failures to ever fall on the Lloyd's Central Fund - GoshawK Syndicate 102 and Alleghany Syndicate 376 - have been finally relinquished.

RiverStone has completed its deal to reinsure-to-close (RITC) the open years of Syndicate 376, as first predicted two months ago in The Insurance Insider.

London-listed (re)insurer Amlin is one of only two Lime Street managing agents that currently possess a green light under the Lloyd's Solvency II traffic light scheme, The Insurance Insider can reveal.

New regulator the European Insurance and Occupational Pensions Authority (Eiopa) has opened for business with a second pan-continental stress test scheduled for the industry next month.

Collateralised reinsurance fund manager Catco invested almost 100 percent of its $80.4mn start-up capital at the 1 January renewals, just weeks after launching.

Bermuda-headquartered Catlin Group's 2008 cat bond Newton Re 2008-1 has defaulted on its final payment, prompting rating agency AM Best to downgrade and withdraw its ratings on the Class A notes.

Shipowners heading for a benign protection and indemnity (P&I) club premium renewal next month will also be looking at reduced excess of loss reinsurance costs for the 2011 policy year.

All 13 International Group (IG) protection and indemnity (P&I) clubs have unveiled their 2011 general increase positions, with the average rise of just over 3 percent the lowest for a decade.

Cooper Gay Swett & Crawford (CGSC) has signalled that it is to acquire the remaining shares in its partially owned Mexican subsidiary Cooper Gay Martinez del Rio.