May 2005/2

McGill joins Aon Steve McGill, the former chief executive of Jardine Lloyd Thompson Group plc, has left his short consultancy role at Benfield Group to join Aon Corp.

Electronic data transfer platform RI3K has announced the delivery of a new facility, allowing placement and transfer of facultative risks, in addition to its existing treaty transfer capability.

Norwich Union leading light Bridget McIntyre has quit the insurer to take over as chief executive of Royal & Sun Alliance’s (R&SA) domestic operations following Duncan Boyle’s decision to retire from the company after 32 years in its service.

Oxygen, the insurance broker promoting itself as a post-Spitzer alternative to the established London market firms, has appointed a new team specialising in group life business.

XL has announced the appointment of former Zurich Specialties chief underwriting officer Glenn Burles as head of its new US liability underwriting unit.

Lloyd’s insurer Markel Syndicate 3000 has had its B+ Above Average syndicate performance rating affirmed by Moody’s.

US insurer HCC Insurance Holdings released another set of record quarterly results last Tuesday (3 May) as net profits increased 29 percent to $57.3mn or $0.81 a share against the $44.6mn or $0.68 a share recorded by the company in the first three months

CNA, the seventh biggest commercial insurer in the States, reversed its $124mn first quarter 2004 net loss into a $178mn profit this time around, and revealed it would restate results for the last three years after reviewing its relationship with Bermuda’

German giant insurer Allianz announced that its first quarter result and growth are “on track” as it pre-empted the release of its full financials for the period this Friday (13 May).

Post-9/11 start-up Endurance Specialty has reported first quarter net profits of $96.3mn or $1.45 a share, fractionally down on the prior-year figure of $100.9mn or $1.47 a share. But operating income, which excludes realised gains and losses, rose from $

World’s biggest reinsurer Munich Re says it’s on track to meet its 2005 earnings target after today (9 May) reporting a strong set of first quarter results, with after tax profits of EUR688mn up 26.7 percent on the first three months of 2004.

Bermudian (re)insurer PXRE has reported first quarter net profits of $22.7mn or $0.69 a share, compared to $30.9mn or $1.18 a share in the same period of 2004. Net operating income per share came in at $23.3mn or $0.71 a share, down from $33.2mn or $1.27