July 2005/2

Amlin has walked away from its proposed bid for fellow Lloyd’s vehicle Chaucer.

UK listed insurer Brit Insurance Ltd has welcomed the affirmation of its financial strength and credit ratings by AM Best.

GoshawK Insurance Holdings – the owner of Bermudian reinsurer Rosemont Re – revealed today that it has expanded its book by around 35 percent this year.

ACE unveiled a series of management reshuffles last week in both its primary and reinsurance operations.

The UK quoted reinsurer Alea Group Holdings reassured shareholders that its 2005 business was continuing to perform “in line with its expectations” last week.

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.

Omega Underwriting Holdings plc has until the 1 August to table a fresh offer for its fellow Lloyd’s insurer Hardy Underwriting Group plc or withdraw its interest, according to a ruling from the London Stock Exchange Panel Executive.

Barbados headquartered Imagine Group confirmed last week that its president and founding chief executive Brad Huntington had stepped down from the organisation.

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 last Thursday (7 July).

Swiss reinsurer Converium has begun the search for a replacement to its chief executive Terry Clarke who stepped in earlier this year following the ousting of Dirk Lohmann in the wake of the company’s much publicised difficulties.

Although the human cost of last Thursday’s (7 July) coordinated terrorist attack on London’s transport network was grave, the impact on the insurance industry is expected to be minimal, with most claims paid by UK government-backed mutual insurer Pool Re.

RenaissanceRe confirmed today that it has parted company with Michael Cash, an executive in its specialty reinsurance unit...