June 2006/4

The new chairman of The Association of Insurance and Risk Managers (AIRMIC), Geoff Taylor, has pledged to make small and medium (SMEs) firms a priority during his tenure.

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).

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

The National Association of Insurance Commissioners (NAIC) voted last week to take the first steps towards scrapping the "full collateral" requirements imposed on non-US-based reinsurers.

Bermudian giant XL Capital announced the restructure of its management team on 15 June with Henry Keeling taking over as chief operating officer.

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.

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.

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.