November 2006/2

Stephen Way has resigned from HCC Insurance Holdings, the company he founded in 1974, following a company investigation over its stock-option granting practices.

RK Harrison Insurance Brokers Ltd, the independent London market brokers, will appoint the former Jardine Lloyd Thompson Group executive Dominic Collins to replace its retiring executive chairman, Richard Corfield.

Oxygen Holdings plc, the London market intermediary backed by high profile figures such as ICAP founder Michael Spencer and former Marsh president Bob Clements, has continued the expansion of its broking operation with the acquisition of the business of S

Bermudian (re)insurer Max Re Capital Ltd today (14 November) announced that acting chairman and CEO W Marston Becker has been permanently appointed to the position.

German reinsurer Hannover Re reported a “gratifying” third quarter result in which the group posted net income of EUR123.5mn.

The Financial Services Authority (FSA), the UK regulatory body, has approved the sale of run-off (re)insurer Chevanstell to an investor group little more than two months after the deal was first announced.

The trial of the ‘Independent Three’ former directors of the collapsed UK insurer Independent Insurance, has been set down for 14 May 2007 at Southwark Crown Court, according to the Serious Fraud Office.

Novae Syndicates Ltd, Novae Group plc’s Lloyd’s platform, maintained unchanged forecasts on its managed syndicates for 2004 and 2005 and the 2002 run-off years last week.

The legal wrangle surrounding contract wordings for the electronic claims file (ECF) has been resolved as the Market Reform Group (MRG) has reached agreement with key market bodies on the procedural rules which will underpin the use of the Insurers' Marke

Despite a solid set of third quarter results from Converium, and the news last month that it had successfully offloaded its US liabilities in a deal with Berkshire Hathaway, analyst William Hawkins of Keefe, Bruyette & Woods remained cautious over the Swi

Expanding Italian (re)insurance giant Generali last week (9 November) reported consensus beating third quarter earnings of EUR538mn that were 23.1 percent up on the prior-year period.

Zurich Financial Services (ZFS) has appointed the head of Royal Bank of Scotland (RBS) Insurance Annette Court to become the chief executive of its European General Insurance operations.