May 2004/2

UK insurers may be in line for claims payouts after flash floods hit London and parts of the West Midlands and Yorkshire on Tuesday (27 April, 2004).

Partner Re has appointed Thomas Renggli, the former head of Swiss Re’s insurance marketing, central Europe, as the head of Global Finite Reinsurance.

Heath Lambert Group has appointed Ian McMullan as director of Heath Lambert Financial and Professional Risks.

Fast expanding Hyperion Insurance Group, owner of London market broker Howden Insurance Brokers, has bought a stake in the reinsurance specialist, JK Buckenham Ltd for an undisclosed sum.

Nigel Malcolm has joined Chaucer Syndicates to underwrite the institutional healthcare account for Chaucer Syndicate 1084 Specialist Lines Division.

Quoted Lloyd’s insurer SVB has bolstered its claims management with the appointment of Jonathan Boyns into the newly created role of group claims director.

(Re)insurers surge ahead on hard market swell Bermuda’s (re)insurers got off to a positive 2004 first quarter with the majority posting results in line or above expectations.

Bermudian reinsurer GoshawK Re is to be rebranded Rosemont Reinsurance, it was announced last week.

UK motor insurer Highway Insurance Holdings Plc saw its share price fall almost 10 percent from 38.75p to 35.25p after revealing that it had withdrawn from takeover talks with rival Cox Insurance Holdings Plc.

Bermudian giant XL Capital Ltd will part company with Nick Metcalf, the chief executive of its Lloyd’s arm XL London Market Ltd.

Lloyd’s syndicates are to be governed by the same rules as UK general insurers according to the latest recommendations published by the Financial Services Authority (FSA).

An 83 percent leap in pre-tax profits helped propel Lloyd’s insurer Atrium into a strong showing for the 2003 year of account.