May 2007/5

Bermudian headquartered PartnerRe confirmed last week that it has acquired the international reinsurance renewal rights of Mutuelle Centrale de Reassurance (MCR).

HSBC Insurance Brokers has appointed the former Marsh executive Philip Gregory to replace Mike Dixon as chief executive of the subsidiary.

Broking giant Marsh has established a new renewable energy team that will be headed by Susan Stokes and Tom Sexton.

Insurers were given a stern warning about the state of the UK’s flood risk at the British Insurance Brokers Association conference in London last week. Professor David Crichton of Benfield’s Hazard Research Centre cautioned the industry that the UK’s Env

Munich Re has announced plans for a EUR1bn subordinated bond issue as it continues to restructure its capital base.

Royal & Sun Alliance (R&SA) last week bought out the 25 percent investment held by minority shareholders in its Scandinavian subsidiary Codan for £584mn.

A good year driven by strong margins and a low loss environment were the main themes from trading statements released by four Lloyd's-based insurers last week.

Seven insurers reached a $2bn settlement with World Trade Center (WTC) developer Larry Silverstein last week bringing to an end more than five years of litigation between the parties.

Broker commission transparency is "inevitable", according to Peter Cullum, the founding chairman of Towergate Partnership, yet he insisted the London market needs to eradicate major inefficiencies in order to compete in the long-term.

Paris Re, the former reinsurance arm of AXA Re, has confirmed plans to list on the Paris-based, European Stock Exchange, Euronext, a year after it was acquired by a consortium of private equity firms.

Judges in the UK High Court last week upheld the £48mn divorce award to the ex-wife of John Charman, the former Lloyd's deputy chairman and founding president of AXIS Capital.

Marsh Inc has announced the creation of Marsh Oman LLC, a joint venture with the Omani business Zubair Group.