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March 2009/5
  • Ark sails into profit; 2009 capacity grows 30 percent
    In its first full year of trading, the private equity backed Lloyd's insurer group Ark Insurance Holdings posted a $18.6mn profit.
    30 March 2009
  • LIIBA claims 98 percent market affiliation
    The London International Insurance and Reinsurance Brokers' Association (LIIBA) has said that its members now total over 120 firms - representing 98 percent of the London-based international broker sector...
    30 March 2009
  • Aon France veteran Redier retires
    Aon veteran Vincent Redier has retired from his position as executive chairman of the broking giant's French operations, The Insurance Insider can reveal.
    30 March 2009
  • Amlin returns to Chaucer race with £280mn offer
    Lloyd's insurer Amlin plc remains a leading runner in the race to acquire rival Chaucer Insurance Holdings, after making an offer which values the firm at around £280mn, The Insurance Insider can reveal.
    30 March 2009
  • S&P also turns negative on Berkshire
    Standard & Poor's (S&P) became the second rating agency to turn negative on Berkshire Hathaway, after it changed its outlook on the firm's core AAA financial strength ratings to negative.
    30 March 2009
  • New York arbitrageur denies Chaucer interest
    New York-based private bank and alternative investment manager Gruss & Co has denied suggestions that it is interested in being involved in a bid for the up-for-sale Lloyd's insurer Chaucer.
    30 March 2009
  • Japanese rates up as key 1.4 renewals approach; sets scene for US wind season
    The 1.4 renewals – dominated by the Japanese treaty market – will provide a barometer of the direction reinsurance rates are headed in after a 1.1 renewal that didn’t deliver the rate rises underwriters had hoped for.
    30 March 2009
  • Group support lost in watered down Solvency II deal
    A preliminary deal on the European Union (EU) Solvency II (SII) directive was reached last week by omitting contentious group support regime proposals, which had been a major stumbling block to EU-wide agreement.
    30 March 2009
  • Aon Benfield pays bonuses; spring defections to follow?
    One of the most effective shackles preventing Aon Benfield's key producers from leaving the newly formed leviathan were removed last week, when the reinsurance broker paid its annual bonuses.
    30 March 2009
  • XL places life reinsurance unit into run-off
    Following a nine-month strategic review, XL Capital placed its UK and Irish life annuity reinsurance business into run-off, citing market conditions.
    30 March 2009
  • EC disappoints with proposal to drop competition exemptions
    The European Commission (EC) has put forward plans to scrap certain EU competition exemptions relating to insurance policy agreements, citing preliminary findings which suggest the agreements are not specific to the insurance sector.
    30 March 2009
  • People moves
    Allied World hires ex-AIG execs for Asia expansion; JLT launches RVI unit with Aon hire; Colemont hires aviation duo from Aon; Sutherland appointed CEO of Qatar Board; Allianz appoints new risk transfer CEO; Aspen promotes Griffiths replacement
    30 March 2009
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