June 2006/5

US insurer Chubb has agreed to provide hull and liability cover to general aviation clients of Starr Aviation - the managing agency ultimately controlled by former American International Group chief executive Maurice "Hank" Greenberg.

Berkshire Hathaway chairman and chief executive Warren Buffett has revealed his plans to give away a large part of his personal wealth to charity.

Bermudian (re)insurer Allied World Assurance Company (AWAC) has revealed that it is under investigation by the Texas attorney general for restraint of trade and other business practices.

Swiss reinsurer Glacier Re had its ratings placed under review with negative implications by AM Best last Thursday (22 June).

Analysts have reacted positively to last week's news that German insurance giant Allianz Group is to cut 7,500 jobs as part of what the company termed a "restructuring and modernising" of its business processes.

UK-listed Jardine Lloyd Thompson Group plc (JLT) announced last week that it has successfully completed the first stage of its peer-to-peer electronic trading with the G6 group of insurers.

Electronic reinsurance trading platform RI3K has cut its prices by 80 percent in a move it described as "effectively sponsored" by Aon.

UK-listed (re)insurer Chaucer Holdings plc has announced a £40mn increase in capacity for next year.

Aon UK announced last Thursday (22 June) that it will soon have the ability to trade electronically across all its London market lines of business.

Quoted Lloyd's insurer Hardy has announced that it will form a new non-marine syndicate for 2007, which will be led by Clal Insurance Syndicate 1301 underwriter Patrick Gage.

US domiciled reinsurer OdysseyRe has launched a new £25mn capitalised UK insurance company that will focus on writing casualty lines.

UK-quoted insurer Hiscox said last week that plans to redomicile to Bermuda are on track.