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.

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.

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.

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

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.

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.

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

Endurance Worldwide Insurance Limited, the London operation of the Bermudian (re)insurer Endurance Specialty Holdings, has gone live with Wildnet’s Wild Certainty system.

Lloyd's broker RFIB Group has recruited a new energy team as it seeks to build its presence in the sector.

US insurer HCC Insurance Holdings Inc has acquired Indianapolis-based Novia Underwriters for an undisclosed sum.

Political risk reinsurers need a boost in capacity from both the capital markets and traditional reinsurance markets, according to a report by broker Willis Re.