June 2008/4

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.

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

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

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.

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

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).

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.

Previous contracts are likely to play an increasingly large role in legal cases following a precedent-setting case involving a policy taken out by Standard Life, say insurance law experts Ince & Co.

The Bermuda Monetary Authority (BMA) is proposing a reclassification of Class 3 (re)insurers into sub-classes because of the increasingly broad range of carriers attracted to the island.

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

Qatar has staked its claim to be the leading centre for insurance in the Middle East with a move to launch an electronic trading platform later this year to service the sector.

Those recent glimmers of hope for the downtrodden financial markets appeared to be snuffed out last week in what was another torrid time for the banking sector.

Former CEO of XL insurance Clive Tobin is set to front energy start up Torus Insurance Holdings Ltd (Bermuda), which has been formally launched today (Monday), The Insurance Insider has learnt.

Risk modelling firm Risk Management Solutions (RMS) aims to boost investment in the insurance linked securities (ILS) market with an electronic ILS portfolio management platform.

Hannover Re's new dedicated insurance linked securities (ILS) team has closed $133mn Globe Re - choosing an innovative deal as its first since launching in January.

Former RenaissanceRe CEO James Stanard has failed in his attempt to have the Securities and Exchanges Commission's (SEC) fraud allegations against him dismissed.

Marsh's 29-strong aviation reinsurance team is transferring to Marsh & McLennan Companies' (MMC) stablemate Guy Carpenter in a move that the firm says will benefit clients.

The remarkable thawing of relations between American International Group (AIG) and Maurice "Hank" Greenberg appears underway after a "positive" meeting between the veteran and Robert Willumstad, the latest man in the hot seat at the troubled insurance gia

Marsh UK executives are to meet later this week to approve the delayed £200mn outsourcing deal with Capita, The Insurance Insider understands.

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).

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.

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.

The Association of Insurance and Risk Managers (AIRMIC) is to publish an index which will allow its members to assess how insurers pay claims.