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June 2008/3
  • Kroll spin-off speculation returns as founder retires
    Speculation surrounding the future of Marsh & McLennan Companies (MMC) security consulting arm, Kroll, was further fuelled at the end of last week when the company announced that founder Jules Kroll is to step down.
    16 June 2008
  • AXA renews EUR61mn motor notes
    French insurance giant AXA is re-approaching the capital markets with its third motor insurance securitisation, renewing the EUR61mn Class D notes from its 2007 Sparc transaction.
    16 June 2008
  • New London chief for Tokio Marine
    Hirotoshi Murakami, CEO of Tokio Marine Global (TMG) in London is set to return to Japan and take up a new position with the parent company at the end of this month.
    16 June 2008
  • US P&C insurers to post 2008 underwriting loss
    US property & casualty insurers look set to post a modest underwriting loss and suffer significant reduction in profits and return on surplus for the year, according to Fitch Ratings.
    16 June 2008
  • ZFS stock under pressure from RBS link
    A potential bid from Zurich Financial Services (ZFS) for the Royal Bank of Scotland's (RBS) insurance unit has continued to place downward pressure on the company's share price.
    16 June 2008
  • Guy Carp appoints Mango as chief actuary
    The former head of Guy Carpenter & Co's enterprise risk management advisory group Don Mango is to take up the new position of chief actuary, the reinsurance broker confirmed last week.
    16 June 2008
  • Scottish Re sells $71mn reinsurance arm
    Embattled reinsurer Scottish Re Group Ltd has agreed to sell its non-US life reinsurance unit to US-based insurer Pacific Life insurance Company for more than $71mn.
    16 June 2008
  • MBIA shares buoyed by plan for new subsidiary
    Bond insurer MBIA Inc is reconsidering the deployment of the $900mn it raised in a recent equity public offering, including the launch of a new insurer.
    16 June 2008
  • Caribbean cat fund renews coverage
    All the member governments of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) have renewed their 2008 policies as this year's Atlantic hurricane season gets underway.
    16 June 2008
  • Greenberg committed to Lehman Bros investment
    The investment vehicle of former American International Group Inc (AIG) CEO and chairman Maurice "Hank" Greenberg will continue with its planned purchase of a stake in Lehman Bros despite expected senior management changes and the posting of...
    16 June 2008
  • Willis ratings lowered on HRH acquisition
    Willis Group Holdings has had its debt ratings placed under review for downgrade by rating agency Moody's after last week’s announced $2.1bn acquisition of Hilb Rogal & Hobbs (HRH).
    16 June 2008
  • Beazley reshuffles senior management
    Lloyd's listed (re)insurer Beazley Group plc is to promote group finance director Andrew Horton to take over from Andrew Beazley as its CEO.
    16 June 2008
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