June 2006/4

Guy Carpenter & Co confirmed last week the appointment of David Spiller as its group chief executive, replacing the long-serving Salvatore Zaffino.

Omega Underwriting Holdings plc was the latest Lloyd's based insurer to paint a bright picture of its trading prospects at the company's annual general meeting today.

Jardine Lloyd Thompson Group plc, the UK broker thought to be conducting due diligence on rival Heath Lambert Group, issued a statement to the Stock Exchange last week saying it had no explanation for the recent volatility in its share price.

Insurance buyers at the Association of Insurance & Risk Managers (AIRMIC) conference were urged to use their power to improve market transparency and drive through contract certainty by the Financial Services Authority (FSA).

German insurance giant Allianz has said it will announce plans for a significant restructuring later this week in a move that is likely to lead to job losses.

The schemes of arrangement for four HIH companies were approved in the UK High Court on 12 June. The schemes became effective on 13 June 2006 when the Court Orders were lodged with Companies House.

Equitas announced on 15 June that it had reached a comprehensive settlement with US insurer The Hartford Financial Services Group.

French giant AXA announced on 14 June that it has entered into a definitive agreement with Credit Suisse Group to buy the Zurich-based company's insurance operation Winterthur for SFr12.3bn, or EUR7.9bn in cash.

FP Marine Risks Limited has become the first Asian-based insurance broker to achieve full accreditation at Lloyd's.

AM Best has suffered the departure of another senior executive from its international operations, Insider Week can reveal.

Swiss Re - now officially the world's largest reinsurer following the completion of its GE acquisition earlier this month - is replacing its retiring US head Jacques Dubois with the former Federal Reserve vice chairman Roger Ferguson.

Brit Insurance Holdings PLC announced today (19 June) the appointment of Graham Taylor to its business development unit, which is headed by Richard Webster, business development director.