July 2006/1

Liberty Syndicates – one of the largest Lloyd’s (re)insurers – has parted company suddenly with its managing director Sean Dalton and head of underwriting Andrew Elliot, The Insurance Insider can reveal.

UK general insurer Aviva plc revealed today (7 July) that it is in talks with AmerUs Group over the potential acquisition of the $2.3bn or £1.3bn valued US life insurer.

New York based Tower Group Inc revealed on 6 July that it will write down $5.4mn on its balance sheet after commuting its outstanding liabilities with the near-defunct Bermudian reinsurer, PXRE Group.

Jardine Lloyd Thompson Group plc – the broking group in talks to take-over UK rival Heath Lambert Group – is to appoint a new finance director.

French (re)insurer SCOR has agreed to buy German life reinsurer Revios in a $775mn transaction.

ACE Ltd has finally received approval from the Pennsylvania insurance commission to spin-off some of its asbestos-riddled subsidiaries to the UK run-off company, Randall & Quilter Investment Holdings Ltd.

UK-listed broker Jardine Lloyd Thompson Group plc (JLT) has confirmed in a short statement to the London Stock Exchange this morning that talks are ongoing with rival Heath Lambert Group over a potential takeover.

UK-quoted Hiscox Insurance Co has appointed Callum Taylor as Directors & Officers (D&O) underwriting manager.

The Financial Service Authority (FSA) published reports last week on "better regulation" and the associated costs as it seeks to improve and streamline its activities.

Bermudian-headquartered reinsurer Imagine Group Holdings is heading towards a 2007 court battle with its former president and founding chief executive Brad Huntington.

Start-up UK insurer Novae Insurance Company Ltd, which is part of newly rebranded Novae Group, started trading today (3 July).

Two Lloyd's syndicates have suffered downgrades from agency Standard & Poor's (S&P) as it conducts its latest Lloyd's Syndicate Assessment (LSA) review.