• X
  • LinkedIn
  • Email
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Email
  • Free trial
  • Log in

March 2008/2

  • Insurance specialist law firm Ince & Co has made a number of senior appointments following the decision of senior partner Peter Rogan to step down this month.
  • Allianz Global Corporate and Specialty (AGCS) has set up a Global Discontinued Business division to handle its vast legacy liabilities, The Insurance Insider has learnt.
  • Stephen Matanle, the long-standing Marsh executive who left the firm last month as part of a widespread restructuring, has joined Libero, the new Lehman Brothers business which is spearheading collaboration...
  • The UK broking sector is set for further M&A activity after consolidator Giles Insurance Brokers Ltd was handed a £500mn acquisition fund following private equity fund Charterhouse Capital Partners' buyout of the firm.
  • Marsh & McLennan (MMC) CEO Brian Duperreault has taken further steps to assemble his senior lieutenants around him in New York with key changes at reinsurance broking subsidiary Guy Carpenter.
  • Ariel Re's specialist Lloyd's (re)insurer Atrium Underwriting is in another dispute with the North Korean state-owned insurer, this time over a train crash claim.
  • The future is uncertain for nearly three quarters of Gallagher Re’s 250 employees following the deal worth around $40mn to sell the unit to Aon Corp.
  • US property catastrophe specialist RenaissanceRe has slashed its Californian earthquake exposures by 75 percent because it believes rates no longer reflect the risk of a major catastrophe.
  • Lloyd's brokers and underwriters will once again be allowed to invest and own each other if proposals to amend the Act governing the market are ratified later this year.
  • Shares in Australian (re)insurer QBE Group slumped after the company missed analyst profit estimates for 2007, raising questions over its rapid expansion strategy.
  • Full-year results from early reporting Lloyd's insurers yielded bumper profits that were tempered by soft market warnings and cycle management strategies.
  • Bermudian-headquartered run-off company Alea Group Holdings' has reported deterioration in its reserves of around $30mn, largely relating to its North American reinsurance portfolio, in its 2007 results.