June 2014/3

Erik Manning has resigned from Guy Carpenter, where he had spent four years placing retro business in Bermuda, and is expected to join Markel shortly in a new capital markets role, sister publication Trading Risk reports.

IAT Re has entered into a strategic partnership with Main Street America (MSA) that will see the US insurer front for the Bermudian quota share specialist on its AM Best A rated paper, The Insurance Insider can reveal.

Fast-growing Heritage Insurance Holdings is set to take on the $60mn portfolio of business previously written by failed Floridian insurer Sunshine State Insurance Company (SSIC).

The New York Metropolitan Transportation Authority (MTA) has taken advantage of softening in the US commercial insurance market by significantly increasing the limit on one of its builders' risk programmes at half the expiring rate-on-line.

XL Capital has confirmed the hire of American International Group (AIG) executive Kelly Lyles, as first revealed by The Insurance Insider last week.

Swiss Re is working with Barclays Capital to sell the remainder of its US closed life business, The Insurance Insider has learned.

JLT Towers Re, the world's fourth-biggest reinsurance broker, is aiming to rebrand itself by the time of the Monte Carlo Rendez-Vous, eliminating the Towers name, The Insurance Insider has learned.

Tokio Millennium Re (TMR) is holding talks with alternative capital providers in a bid to secure capacity commitments that would allow it to significantly increase its line size on select reinsurance placements, The Insurance Insider can reveal.

The niche aviation war market looks certain to fall to a loss in 2014 after four planes were damaged in this month's attack on Jinnah International Airport in Karachi, causing an estimated loss of $15mn-$20mn, The Insurance Insider understands.

Aon president Steve McGill and Jane Barker, the chairman of rival broker Marsh's UK arm, have been awarded one of the UK's top civilian honours.

Global insurer QBE has postponed the sale of its US mid-market business amid muted interest, The Insurance Insider can reveal.

Actuaries and in-house legal teams have become a "hindrance rather than a help", according to Nick Gooding of consultancy NPGC.