June 2008/5

Xchanging has hired Stewart McCulloch, the former CEO of Lockton International, as Implementation Director.

Aon Risk Services has launched a mergers & acquisitions (M&A) service for private equity, sovereign funds, business-to-business, real estate and infrastructure funds based in its Dubai office.

Poor returns from UK acquisitions have put a stop on future AXA Group buyouts, according to the French insurance giant’s chairman and CEO, Henri de Castries.

Acquisitive run-off specialist Enstar Group Ltd has announced plans to raise around $105mn with a new public share issue.

The risk of flooding in the UK will continue to escalate unless the government improves the resilience of flood-prone areas, according to an independent review of last summer's UK floods.

Net income for the US property & casualty (P&C) insurance industry has almost halved in the first quarter of 2008 after heavy losses in underwriting results, according to the US P&C associations.

Amlin plc remains one of the best property and casualty insurers, according to Keefe, Bruyette & Woods analyst Chris Hitchings, after the listed-Lloyd's insurer reassured investors that its catastrophe risk account remains in good shape.

Canopius Group Ltd has announced the appointment of Stephen Hartwig as senior vice president and head of excess casualty to its Bermuda-based underwriting agency.

A US judge has dismissed several of the claims made by American International Group (AIG) in its attempt to wrest control of a block of its shares from its former CEO and chairman.

AXIS Capital Holdings Limited has poached Michael Steel, Benfield Group's global head of capital markets and appointed him in the newly created role of chief risk officer, the Bermudian company has announced.

New York governor David Paterson has dropped the biggest hint yet that it could relax regulatory barriers against foreign (re)insurers, according to reports last week.

Ratings agency Moody's Investor Services has cut its outlook on XL Capital to negative due to the company's exposure to the sub-prime crisis through its bond insurer affiliate Security Capital Assurance (SCA).