May 2009/3
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XL boosts aviation team with Catlin hires; Arch CEO Iordanou takes on chairman role; Allianz Global in UK PI push; XL Insurance energy promotion; Cooper Gay bolsters EE energy business
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Montpelier Re Holdings Ltd will begin writing marine insurance business through its Lloyd's platform in August after hiring Mike Southgate from Swiss Re to spearhead the launch.
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UK insurer RSA has raised £500mn of subordinated debt to bolster its financial flexibility ahead of any call on its existing EUR500mn subordinated guaranteed bonds.
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Bermuda was dealt a reprieve last week as US President Barack Obama left out of his $210bn tax revenue package proposals that would curb the ability of non-US insurers to cut tax bills by ceding US premiums to affiliated offshore reinsurers.
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Dermot O'Donohoe is set to join Torus on 1 September after resigning as chief underwriting officer of XL Insurance’s global specialty operations and CEO of its London market operations, The Insurance Insider can reveal.
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Following private equity firm Pamplona Capital Management's announcement last week that it would like to acquire a 29.9 percent stake in Lloyd’s insurer Chaucer Holdings, all eyes are on Brit Insurance...
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Validus Holdings has raised the stakes in its battle with Max Capital to acquire fellow Bermudian IPC Holdings by introducing a modest cash component of $3 a share to its offer.
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Airmic (the association of insurance and risk managers) has published its own guidelines for commercial insurance buyers in their dealings with brokers, calling for automatic, mandatory disclosure...
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The joint venture that acts as the clearing house for the London market, Xchanging Ins-sure Services (XIS), has appointed Richard Bucknall to succeed its current chairman, Sir Laurie Magnus.
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Mark Butterworth, managing director of Ironshore-owned Lloyd's reinsurer Pembroke, has resigned from the company and is working his notice, a spokesperson for Syndicate 4000 confirmed.
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Lloyd's has censured three members of Ark Syndicate Management's Accident and Health (A&H) underwriting team for "discreditable and detrimental conduct" following their move to Ark from Travelers' Lloyd's platform in 2007.
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Adrian Fox, the financial institutions (FI) specialist who resigned from Aspen Insurance Holdings in March, has re-emerged at HSBC Insurance Brokers.