May 2006/5

French reinsurer SCOR has reported a 61 percent rise in its first quarter income to EUR53mn from EUR33mn in the prior-year period.

Lloyd’s run-off vehicle Equitas has reached a $90mn settlement with US firm WR Grace & Co over its asbestos liabilities.

Jeremy Cooke - the former head of Marsh's Inc wholesale broking operations - has returned to MMC as a senior operations advisor.

Bermudian (re)insurer Max Re announced on 19 May that its failure to file the company’s Form 10-Q for the first quarter means it faces the possibility of de-listing from the Nasdaq.

Bermudian giant ACE Ltd confirmed announced that Brian Duperreault, chairman of the board, will retire from the company at the end of the month.

Start-up (re)insurer Lancashire Holdings Ltd has blamed a sluggish marine market for writing less business this year than it initially planned, according to a 17 May trading statement, but reiterated that it expects to maintain its targeted returns...

Guy Carpenter & Co has recruited an eight-strong Credit, Bond & Political Risk team headed by the former Benfield Group executive John Orchard, Insider Week can reveal.

Willis Group’s long-established Italian financial institutions/executive risks team is set to change sides and join rival Aon Ltd, only months after the world’s third largest broker restructured its London-based professional risks division.

Rodney Adler, the former director of failed Australian insurer HIH, failed last week in an attempt to have his jail term reduced.

As revealed by The Insurance Insider in February, the UK division of US retail broker Arthur J Gallagher has hired ex-regulator Sarah Dalgarno as director of compliance and risk management.

American International Group (AIG) has announced that the China Insurance Regulatory Commission (CIRC) has given its life and general insurance subsidiaries in China approval to expand.

General Motors has brought its asbestos dispute with Royal & Sun Alliance Group to the UK by filing a suit against the insurer into the High Court.