July 2009/1

Lloyd's and Bermuda (re)insurer Omega Insurance Holdings declared its Names capacity buyback initiative a success last week, after receiving acceptances of approximately £45.7mn of capacity.

The key 1.7 renewal date carried on the trend set at the 1.6 Florida-focused renewal, with reinsurers looking for bumper rate rises left disappointed...

XL Insurance - the London-based subsidiary of Bermudian (re)insurer XL Capital - has named Neil Robertson as replacement for the recently departed chief underwriting officer (CUO) of its global specialty business...

Brit Insurance has hired former XL Capital chief processing officer Malcolm Beane as COO, effective from 21 September

Bermudian reinsurer PartnerRe is to acquire up-for-sale rival Paris Re in a $2bn multi-step deal that will create the world's fourth-largest pure reinsurer, based on shareholders' equity and business written.

Former Aviva Group executive Patrick Snowball has been appointed as CEO of struggling Australian financial services group Suncorp-Metway, effective 1 September.

Guy Carpenter took further steps to bolster the management of its non-US operations last week, as it looks to redress the shift in its powerbase to New York that began early last year.

Catlin Group is understood to be the leader on the liability reinsurance programme for Italian train operator Ferrovie dello Stato, following a crash in the Tuscan city of Viareggio on 29 June.

The Hartford Financial Services Group has filed a lawsuit against Bermudian Arch Insurance and three former employees, claiming Arch "conducted an unlawful corporate raid" by hiring over 60 managers, underwriters and employees from its New York subsidiary

After a first quarter in which it outperformed the FTSE All Share index total return, the UK non-life insurance sector has failed to pick up on the widespread bounce in the equity markets in Q2.

London-headquartered (re)insurance broker Cooper Gay has edged closer to its desire for a public listing, with news that it has appointed UBS as adviser.

Aon moved swiftly to appoint a new CEO of its UK operations, naming Rob Brown to the position.