March 2006/1

“Class of 2005” start-up Validus Holdings Ltd announced today (6 March) that former Merrill Lynch investment banker Joseph E. (Jeff) Consolino has been appointed chief financial officer and executive vice president of the company and its subsidiary...

Shares in (re)insurer Quanta Capital Holdings Ltd collapsed last week after the company admitted it was putting itself up for sale following deteriorating losses and a downgrade by rating agency AM Best from the crucial A- to B++.

Warren Buffett said the cost of Hurricane Katrina and “her ugly sisters, Rita and Wilma” cost Berkshire Hathaway a total of $3.4bn last year. The investment titan revealed the extent of Berkshire’s bill in his annual letter to the company’s...

Ratings agency Moody’s says that the outlook for Australia's property and casualty insurance industry is stable. “The industry has registered a good underwriting performance in the last few years, largely due to its sound claims experience, driven...

The London market has exceeded its latest target laid-down in conjunction with UK regulator, the Financial Services Authority (FSA), to ensure contract certainty of policies agreed in December. According to the Market Reform Group (MRG) – the industry

Swiss reinsurer Converium has provided details of restated financial results following an internal review prompted by regulatory investigations into ‘finite’ reinsurance. In a statement on 28 February, the company – which has been attempting to...

US broker Hub International reported a fourth quarter increase of 75 percent in its net earnings, which rose to $5.9mn. Revenue for the quarter was up 12 percent to $114.1mn, while revenue for the full-year was up 25 percent to $442.6mn.

London market (re)insurers and brokers were recognised yesterday as some of the UK’s best companies to work for, according to the annual Sunday Times survey. The medical malpractice specialist Marketform Group came 26th out of the UK’s top 100 best...

Ex Aon Re executive director Shaun Scade has joined Marsh’s reinsurance arm Guy Carpenter & Co Inc to head its accident & health specialty practice in London. Scade – who joins as a senior vice president – will report to Nick Frankland, the head of...

London-based HSBC Insurance Brokers announced a restructuring last Wednesday (2 March), with four core divisions reporting to chief executive Mike Dixon. The new structure sees Direct Client Solutions, International Solutions, Intermediary Solutions...

Listed Lloyd’s insurer Chaucer reported on 28 February that it has written £125.8mn of premium, net of brokerage, during January renewals. The premiums are up from January 2005’s figure of £110.3m and represent approximately 28 percent of Chaucer’s...

Broking giant Aon is suing two of its rivals, Integro and Heath Lambert, for poaching members of its staff. The suit against Integro was filed in Atlanta on 13 February and accuses the start-up broker of a “campaign to pirate” Aon employees.