July 2005/2

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

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...

French insurance giant AXA has had the financial strength rating of its reinsurance subsidiary AXA Re upgraded from A- to A by AM Best, partly as result of its decision to lend the company EUR150mn to boost its capital.

XL unveiled a further boost to its US reinsurance reserves last week, which included a $64.7mn pre-tax increase for its workers’ compensation reserves.

American International Group revealed last week that the former chairman of the US Securities & Exchange Commission Arthur Levitt has become the insurance giant’s special advisor to its Board of directors and the Board’s Nominating and Corporate...

Jardine Lloyd Thompson Group (JLT) plc’s wholesale broker Lloyd & Partners announced on Friday (8 July) two key appointments to its expanding property team, with the arrival of Derek Hansen and Adrian Godlieb from rival Price Forbes.

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.

Hurricane Dennis swept into Florida over the weekend wreaking widespread devastation in its path. But despite following a similar trajectory to last year’s Hurricane Ivan, most experts predict the (re)insurance bill will be significantly lower than the...