November 2006/4

Reinsurance giant Swiss Re was moved to deny reports yesterday evening that it had made a bid for the UK life funds consolidator Resolution plc.

Stephen Way has become the latest "A list" US insurance executive to suddenly resign from his company following regulatory scrutiny into its activities.

Trading by Wellington Underwriting plc in this year's Lloyd's syndicate auctions is being scrutinised following revelations that the company bought capacity on its own syndicate at a fraction of the price now being offered as part of the Catlin Group take

Quoted Lloyd’s reinsurer Advent Capital (Holdings) plc gave an upbeat assessment of trading conditions while unveiling a profit before tax of £12.1mn for the first nine months of the year.

The CV Starr & Co controlled managing agency American International Marine Agency of New York (AIMA) changed its name to Starr Marine Agency on 13 November.

The London market's first fully paperless claim settlement has been completed between reinsurance broker Guy Carpenter and Lloyd’s insurer Amlin.

Oil Insurance Ltd has announced that nine of its shareholder members would be departing from the energy mutual at the end of the year.

Fresh from its third quarter return to profit, Bermudian-headquartered White Mountains Insurance Group Ltd became the latest (re)insurer to announce plans for a share buyback. According to the company, it would acquire up to 1 millon shares.

Scottish Re, the under-fire Bermudian life reinsurer, suffered further ratings downgrades from AM Best and Standard & Poor's last week.

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.