March 2007/5

The insurance industry needs a real partnership between underwriters and brokers if it is to progress, according to Hiscox Ltd's chairman Robert Hiscox.

Lloyd's insurer Hardy Underwriting Group has revealed that it will stay in London, but that the possibility of moving to a low tax jurisdiction remains firmly in its sights.

French insurance giant AXA SA has denied it is interested in making a play for its Italian rival Generali Assicurazioni SpA.

RK Harrison, the independent London market broker, has confirmed the arrival of five former energy brokers from rival Jardine Lloyd Thompson Group plc (JLT).

Managing agency CV Starr will be one of the underwriters for Lloyd's newly licensed Chinese reinsurance operation, it was revealed last week.

Catastrophe modelling agency Risk Management Services (RMS) has warned that a large earthquake striking near the Chinese capital Beijing could cause $100bn in (economic) damages.

Xchanging is planning to raise up to £150mn in a planned April initial public offering (IPO) which could see the firm valued at over £400mn, Insider Week can reveal.

QBE Limit and Markel are set for a November High Court showdown with broker Surety Guarantee Consultants Ltd (SGC) over allegations of fraud in connection with construction bonds it issued as a coverholder.