June 2010/5

New CFO parachuted in at Willis; Carnegie-Brown goes to Catlin; RMS hires Aon Benfield's Rao...

Geithner still expects loss on AIG;Towers Watson sells VIPitech to Algorithmics; Montpelier Re wins reinsurance arbitration; Xchanging to partner with European financial payments specialists...

General insurers rediscovered their optimism in the second quarter of 2010 despite declining profitability, according to the latest survey of the UK financial services sector from business lobby group the CBI and PricewaterhouseCoopers (PwC).

Singapore-headquartered insurance investor and services provider Whittington Group is launching a new direct online insurance company for the local market.

The London market looks to have escaped significant pay-outs from a plane crash that killed the board of Perth-based mining company Sundance Resources.

Dutch insurance giant Aegon is looking to sell its Transamerica life reinsurance arm, as it moves to focus on core activities and improve its risk profile.

Average premium rates for US terrorism insurance declined by 12 percent in 2009 despite an increase in take-up rates, according to Marsh.

Liberty International Underwriters (LIU) has established a trade credit operation in Paris with the hire of specialist underwriter Alexandre Egnell from Atradius.

German (re)insurance giant Hannover Re has reiterated its earnings projections for 2010 and pointed to areas of future growth, including the German motor insurance market.

The lack of legislation covering the quasi-banking investment activities that took American International Group (AIG) to near-collapse should make (re)insurers pause before telling regulators that they are not the same as banks.

The UK's coalition government has pledged to reform two aspects of the tax regime highlighted in a policy paper prepared by The Insurance Insider's London 100 group, which was submitted to all three main political parties earlier this year.

Hector Sants, CEO of the Financial Services Authority (FSA), has warned that the rapidly evolving regulation of financial services in the European Union requires full engagement from the UK.