March 2007/3

Willis Re has appointed the ex-Aon executive Donald MacDonald to become deputy managing director of its UK Reinsurance unit.

UK general insurer Royal & Sun Alliance (R&SA) saw its 2006 results slip into the red following the successful completion of the sale of its legacy US business, Arrowpoint Capital.

Benfield Group said Florida's decision to near double its hurricane catastrophe bond will cost the group an estimated £10mn in trading profits this year.

Benfield Group will treat the £9.525mn which Aon Re has agreed to pay to settle the litigation springing from the defection of a key producing team as an exceptional item this year.

The decision of Lloyd's insurer Hiscox Ltd to open a Bermudian underwriting platform has "paid off handsomely", according to Robert Hiscox, the firm's chairman.

Catlin Group has agreed to pay £16mn to Names who traded Wellington capacity in the Lloyd's auctions last year before the two insurers announced they were in takeover talks.

US regulators are continuing to stall on proposed measures to change collateral requirements for so-called "alien reinsurers".

Maurice "Hank" Greenberg sold another chunk of his American International Group (AIG) shares netting around $28mn last week.

The US government is set to introduce a bill to extend the Terrorism Risk Insurance Act (TRIA) in April.

China Reinsurance is planning to raise up to $2.6bn in an IPO later this year.

Lloyd's insurer Atrium Underwriting plc said its full-year results would be "materially ahead of current market expectations" after it improved its syndicate forecasts.

"Class of 2005" insurer Lancashire Holdings revealed it is targetting premium growth of at least 20 percent in 2007 as it reported better than expected earnings per share of 40.9p - 9.1 percent ahead of analysts' consensus.