July 2005/5

RenaissanceRe’s shares fell more than 6 percent in early trading today (25 July) after the company revealed that the Securities & Exchange Commission (SEC) intends to bring a civil enforcement action against the reinsurer’s chairman and chief executive...

Users of solvent schemes of arrangement as a solution to discontinued business suffered a setback last Thursday (21 July) when a High Court judge refused to sanction a scheme for the British Aviation Insurance Company (BAIC).

Aon is thought to have won part of the prestigious Exxon Mobil account from its rival Marsh, according to sources.

Hannover Re has not always welcomed unsolicited financial strength ratings, but there was no comment from the German reinsurer last week following Fitch Ratings’ decision to assign an A+ to the company.

In the July edition of The Insurance Insider we incorrectly say that QBE’s European Commercial division and its European Retail division were to merge to create a single Dublin based operation.

Patrick Mina, the current head of Client and Market Services in the UK, has been appointed to the newly created role of Head of International Client and Market Services.