July 2007/4

Tawa Group is set to float on London’s Alternative Investment Market (AIM) and become the first non-life run-off consolidator to list in London.

Bermudian (re)insurer XL Capital has appointed Brian Nocco as its new chief financial officer.

In an announcement that will come as good news to early entrants to the Chinese reinsurance market, the China Insurance Regulatory Commission has predicted that demand for reinsurance is expected to reach 100 billion yuan ($13.2bn) by 2010 when total prem

London market broker Jardine Lloyd Thompson has announced the appointment of Ron Hayes as managing director of its Global Risk Solutions Division.

QBE Insurance (Europe), subsidiary of Australian (re)insurer QBE Insurance Group Ltd has announced its intention to form QBE Switzerland with the acquisition of two Swiss motor insurance businesses.

Integro Ltd CEO Roger Egan has sued former employer Marsh & McLennan Cos Inc (MMC) alleging he was not properly compensated after being axed by the company in the aftermath of the 2004 bid-rigging affair.

For the second consecutive year, the number and total dollar value of US securities fraud class action lawsuits were well below historical averages.

Paris Re shares have slipped by 6 percent since floating on Friday (13 July) with fund managers commenting the company may have been over-priced as it made its debut on the Paris-based European Stock Exchange Euronext.

Listed Lloyd’s (re)insurer Brit Insurance Holdings has hired Ben Maidment as Privacy, Cyber and Technology underwriter for its US PI team, which is headed by Janet Henderson.

Rating agency Standard & Poor’s (S&P) have removed Bermudian energy mutual Oil Insurance Ltd (OIL) from CreditWatch with negative implications and affirmed its A-counterparty credit and financial strength ratings. The outlook is negative.

Creditors of Bryanston Insurance Company Limited are to receive a payment percentage of 59 percent after the scheme administrator, Paul Evans, raised the amount by another 12 percent.

The heads of the GCFac team that defected to rival Integro Ltd in April have won a UK Court of Appeal judgment preventing former employer Guy Carpenter from suing them in New York.