June 2006/2

Lloyd's insurer Argenta Syndicate Management Ltd has parted company with its lead underwriter John Hyland after six years at the helm of its reinsurance focussed Syndicate 2121.

Lloyd's has added Steve McCann, its head of open years, to a special working party to manage its application for a permanent Chinese licence as the deadline for regulatory approval fast approaches.

RMS learns Katrina lessons with new model; Buffett points to son as non-executive chairman; WTC insurers in fees victory; Imagine appoints ex-Platinum executive as CEO; Sompo Japan suspended by regulator; et al...

Equitas boosts asbestos reserves; Creechurch parts company with chief executive; Monument in disarray as chief executive quits; Novae enters energy as start-up gets A- rating; Lloyd's warns insurers on climate change; et al...

CV Starr, the managing agency ultimately controlled by former American International Group chief executive Maurice "Hank" Greenberg, is set to appoint an aviation underwriter who will spear-head the company's London market operations.

Aon Ltd is close to deciding on the company it will partner with to outsource its entire back-office function, The Insurance Insider can reveal.

The former head of Lloyd's strategy Stuart Degg, together with reinsurance consultancy the Donald Macdonald Partnership, is set to launch a new operation targeting the industry's growing enthusiasm for (re)insurance-linked securitisations...

Amidst market volatility, Numis downgrades earnings forecasts Despite hardening rates in some lines of business and positive trading statements, London-listed insurance stocks have taken a hammering in recent weeks.

Although the London market was recently overtaken by Bermuda as the largest brokered reinsurance market in the world, analysts from Morgan Stanley believe the market remains attractive as an investment proposition, with lower capital requirements...

UK general insurer Royal & Sun Alliance (R&SA) announced first quarter pre-tax profits of £122mn, unchanged from the corresponding period of 2005.

Allianz net profit up in revised results German insurer Allianz reported a 35 percent increase in profits in its revised first quarter results on 12 May. Net profit rose to EUR1.78bn this year from EUR1.32bn in the prior-year period.

German giant increases use of securitisations as retro costs rise German reinsurer Hannover Re revealed it has halved its coverage from the traditional retro market in its programme renewal as it released strong first quarter operating results...