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July 2009/1

  • A packed courtroom at the UK High Court last week (2 July) heard the final arguments in the three-week trial between Berkshire Hathaway's Equitas and Randall & Quilter (R&Q)-owned Brandywine.
  • Hannover Re CEO Wihelm Zeller retired on 30 June as planned, after over 13 years with the company...
  • 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.
  • 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.
  • Aon moved swiftly to appoint a new CEO of its UK operations, naming Rob Brown to the position.
  • 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...
  • The resurgence of reinsurance as a stable form of capital is seeing Europe's P&C reinsurance giants enter into more transactions with stretched life insurers.
  • Brit Insurance has hired former XL Capital chief processing officer Malcolm Beane as COO, effective from 21 September
  • Swiss-domiciled reinsurer Flagstone Reinsurance Holdings has entered the race to buy in-play Bermudian cat specialist IPC Holdings, with an offer for all outstanding shares that beats the current best offer by $4.76 a share.
  • Guy Swayne, CEO of Flagstone Réassurance Suisse - the Swiss subsidiary of Flagstone Reinsurance Holdings - will return to Bermuda to resume his role as chief underwriting officer for the reinsurer’s international team.
  • 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.
  • 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.