June 2006/2

Bruce Carnegie-Brown resigned unexpectedly as president and CEO of the Europe and Middle East region of Marsh Inc last month, after just three years at the firm.

In an exclusive interview with our sister publication IQ, Sue Langley, chair of the G6 and chief operating officer of UK insurer Hiscox, confirmed the group would pilot a new approach to contract checking, to which the new Lloyd's CEO Richard Ward...

Although the pace of business process reform has picked up in London, with initiatives from Lloyd's, the Lloyd's Market Association and the G6 moving forward, Bronek Masojada, chief executive of UK insurer Hiscox, challenged the market...

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...

The first quarter of the year has seen premium income drop for Bermudian reinsurers despite sharp rate rises, reported Benfield in its Bermuda Quarterly review.

Heritage Underwriting Agency plc is still keen to proceed with its planned Alternative Investment Market (AIM) flotation despite the sudden resignation of its renowned underwriter, Les Rock.

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.

The High Court has sanctioned the first transfer of business out of a Lloyd's syndicate since the formation of Equitas ten years ago, opening the prospect of a new method to obtain finality for non-trading syndicates.

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...

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

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.

Former Brit space underwriter Simon Clapham has been signed up by Sciemus Limited as director of insurance, to work with the LibSat satellite consortium backed by Liberty Syndicate Management and a number of other Lloyd’s insurers.