June 2008/4

Hyperion Insurance Group Ltd has announced that its 2007 operating profit increased by 10 percent to £6.5mn, compared to £5.9mn in 2006.

As many as 500,000 homes in the UK could become uninsurable unless the Government takes action to protect them, according to the Association of British Insurers (ABI).

The Chubb Corporation has appointed John Dengan as vice chairman and chief operating officer among several senior promotions at the US firm.

Angus Cameron is to join Marsh as CFO of its UK operations, parent company MMC confirmed last week.

Willis Group Holding's international division has recruited former Allianz executive Margo Black to head up its reinsurance operation in the newly deregulated Brazilian market.

French reinsurer SCOR has revealed that it will be launching its Americas "hub" in New York where it aims to serve North and South America, including Central America, the Caribbean and Mexico.

US insurer Assurant Inc has announced the completion of its catastrophe reinsurance programme for 2008 and, with rates falling, was able to buy additional cover.

Captive operations owned by financial institutions are less likely to take out reinsurance than those belonging to other sector groups, according to a report by Marsh.

German reinsurer Hannover Re has reached an "exclusive agreement" with Indian reinsurer GIC Re to develop and underwrite life reinsurance business in India, the group has announced.

Aon Corp's Middle East division has opened a regional headquarters in the Dubai International Finance Centre (DIFC), after being granted a license to operate within the DIFC.

Insurers face a greater threat from weak pricing than from the credit crisis in the months ahead, according to Swiss Re.

Around three-quarters of London market insurers believe they will underestimate the impact of rate softening, according to a report from Ernst & Young (E&Y).