May 2005/6

The head of Xchanging’s London market sector Clive Buesnel is to pioneer the rollout of the outsourcing firm in the US, The Insurance Insider can reveal.

Reinsurer Hannover Re confirmed last week that it had successfully completed its EUR500mn hybrid capital bond via its subsidiary Hannover Finance (Luxembourg) SA.

Former FirstCity professional indemnity executive Roddy Graham has joined Thompson Heath & Bond Ltd (THB), Insider Week understands.

Rostrum Group, the third largest investor in the Lloyd’s quoted insurance stocks, is winding up its involvement in the sector because of a failure to generate consolidation among the companies.

Kinnect, the Lloyd’s-backed electronic data transfer initiative, has confirmed that it is recoding its platform for future releases. Speaking to Insider Week, Iain Saville, chairman of Kinnect, said the re-coding aimed to improve the functionality...

Matthew Fosh, the chief executive of Lloyd’s insurer SVB Holdings plc, described his company’s first quarter syndicate forecasts as “pleasingly uneventful” last week. The insurer – which continues to battle against a legacy of US professional indemnity

Ambitious Lloyd’s listed insurer Chaucer Holdings said it plans to double its current underwriting capacity by the time the next sector cycle peaks, as it reported a positive start to the year in its latest trading statement, released to the London Stock

Marsh Inc may be disposing of its wholesale units less than a year after it swooped for London based operation Prentis Donegan. Last week, following an MMC board meeting, the broking giant confirmed that it was “exploring strategic alternatives”...

The president and chief operating officer of US broker Hilb Rogal & Hobbs Co. (HRH) resigned last week (26 May) after evidence was uncovered of his involvement in illegal payments in exchange for steering accounts to insurers.

After multiple delays, under-fire insurer AIG has announced today that it has finally filed its 2004 Form 10-K with the Securities and Exchange Commission (SEC). The insurance giant, which was forced to restate its accounts in the wake of the SEC...

Advent Capital (Holdings) plc will float later this week on the Alternative Investment Market (AIM) in an IPO that will value the Lloyd’s insurer at £77mn.

Declining P&C insurance rates, the weak dollar and the impact of Spitzer were all blamed by South African financial services firm Alexander Forbes for a 5 percent decline in revenues in its international risk services unit.