March 2005/2

Specialist insurer Markel International has set its sights on continental Europe, announcing last week that it will open an office in Spain. Markel International España will be based in Madrid and will focus initially on Professional Indemnity and Dir

Broker Willis has boosted its property credentials after poaching 15 executives from rivals Aon and Heath Lambert last week.

Accountancy firm Deloitte & Touche won a small skirmish last week in the battle over its involvement in the collapse of the controversial aviation pool, Fortress Re.

As UK insurer Royal & Sun Alliance (R&SA) continues the hunt for a solution for its discontinued operations in the US, it revealed last week that it also plans to sell part of its ongoing business with the divestment of its non-standard auto unit.

Bermuda-headquartered London listed insurer Catlin last week (11 March) announced record premium and profit figures for 2004, despite the year’s record hurricane losses. The company booked gross premiums of $1.43bn, a 20 percent increase on 2003’s $1.2

But viaticals and bail bonds continue to pose questions... GoshawK has announced a post-tax $3mn loss for 2004 in its full year results – with claims of $40mn from Q3 hurricanes and other catastrophes blamed as the main reason for the losses.

Listed Lloyd’s insurer Amlin rode a year dominated by record industry natural catastrophe losses to register year-on-year improvements in its earnings per share and combined ratio for 2004.

Hank Greenberg may be set to stun the insurance industry by stepping down from his post as chief executive of the world’s largest insurance company American International Group (AIG).