July 2005/1

David Spiller has resigned from his position as CEO of Benfield Group's International Division, the company announced in a statement to the London Stock Exchange this morning (7 July).

Share prices in Lloyd's (re)insurers have fallen sharply in response to the explosions which rocked London this morning.

Lloyd’s is parting company with two senior executives as part of a restructuring that will see the Corporation move further away from a regulatory emphasis to one of operational risk management.

Despite a softening market, Bermuda-headquartered (re)insurer Aspen last week (28 June) announced it expects its 2005 gross written premiums to be 20 to 25 percent higher than in 2004.

World’s second largest broker Aon has appointed Michael Reynolds as chief financial officer of Aon Re International (ARI) and Aon Re UK, in addition to his role as CFO for Aon Captive Services Group.

The Pension Protection Fund (PPF) has confirmed that the three pension schemes of insurance broker Heath Lambert have entered into an assessment period.

Willis chief executive Joe Plumeri has earned around $50mn this year from selling over a third of his holding in Willis, the broker he has revitalised since joining in 2000.

German reinsurer Hannover Re has revealed plans to realign its under performing US subsidiary Clarendon away from program business to specialty insurance, potentially cutting gross premiums by $1bn and increasing group net retention to 80 percent over...

Start-up broker Integro Ltd has added to its growing roll call with the appointment of Craig Lowenthal as managing director and chief information officer.

Lloyd’s insurer SVB Holdings plc has cut the cost of its capital after arranging new banking facilities with Lloyd’s TSB.

Lloyd's insurer Chaucer has said it aims to acquire the balance of £7.9mn of capacity on Syndicate 1084 through its subsidiary ALIT (No. 1) Limited.

Lloyd's underwriter Hardy has provided details of the shareholders backing it in fending off the unwelcome attentions of fellow Lloyd's insurer Omega.