June 2009/4

Aon has confirmed that UK CEO Peter Harmer is set to return to Australia at the end of September...

The schedule of the already delayed Equitas v Brandywine LMX spiral clash in the UK High Court suffered a further setback last week, after expert underwriting witnesses failed to give evidence for undisclosed reasons.

The on-off takeover saga of Lloyd's insurer Chaucer took a decisive step forward today with a formal, all-paper offer by rival Brit Insurance this morning, but its modest terms has provoked Russian-backed private equity firm Pamplona Capital...

Air France will give about EUR17,500 ($24,000) as an advance to the families of victims on Air France Flight 447 from Rio de Janeiro to Paris, which crashed on 1 June.

Willis Group Holdings confirmed last week that it was in discussions over selling a portion of its interest in privately held French broker Gras Savoye & Cie.

After 2008's bleak investment conditions, Flagstone Re has piled out of equity investments and now has 34.5 percent of its portfolio invested in US Treasury Inflation-Protected Securities, or TIPs...

Offshore domicile Guernsey has seen a significant increase in enquiries relating to setting up captive and insurance cell operations in the last three months, chief executive of Guernsey Finance Peter Niven told The Insurance Insider.

RAA: $58bn in US premium ceded offshore in 2008; AWAC launches side 'A' D&O excess product; Ace enters $500mn LOC agreement with Deutsche Bank; Heath Lambert gains two new clients

Last week's move by Swiss Re to sell its US asset management arm Conning & Co to Jeff Greenberg-run private equity firm Aquiline Capital Partners LLC should help increase its capital buffer.

London market (re)insurance broker Cooper Gay (Holdings) Ltd has taken a decisive step towards its ambition of a public listing with the imminent arrival of two City heavyweights that have recently stepped down from Benfield Group.

UK outsourcing giant Capita is set to appoint Edward Creasy, chairman of Tokio Marine subsidiary Kiln plc, to the board of its insurance services arm as a non-executive director, The Insurance Insider can reveal.

Texas Governor Rick Perry has signed into law a bill (HB 4409) for restructuring the state's windstorm insurance fund, the Texas Windstorm Insurance Association (TWIA), and axing its $1.5bn reinsurance programme.