November 2007/4

US broker USI Holdings Corporation has unveiled Michael Sicard as the successor to David Eslick as its chairman, president and CEO.

Quoted Lloyd's insurers Amlin plc and Beazley plc continued the market trend for share buybacks after announcing the repurchase of shares totalling £150mn last week.

Recently-listed European reinsurer PARIS RE said net premiums fell by 14 percent in the third quarter due to falling rates and higher retentions in the current soft market.

Catlin Group COO, Paul Jardine, has called on insurers to be "very wary" of repatriating capital to shareholders in the current market environment, as the sub-prime debacle may hamper future attempts at capital raising.

Aon has swooped for key members of Willis’ well-regarded construction practice, Insider Week can reveal.

UK life insurer Pearl Assurance has emerged as the strongest bidder in the takeover struggle for UK life funds consolidator Resolution plc, after raising its cash offer to 720p per share.

Catastrophe risk modelling firm AIR Worldwide Corporation has estimated that insured losses from the earthquake that struck Chile last week will not exceed $80mn.

The critical Court of Appeal verdict that upheld the Summary Judgement, which struck out large parts of the defence of London market reinsurers led by Allianz in a case brought by the North Korean national insurer...

Philip Grant, chairman of The Association of Run-Off Companies (ARC), is behind a new run-off service provider in London.

Markel International Insurance Company Ltd (MIICL) has welcomed its upgrade by Fitch Ratings to A with a positive outlook.

The National Association of Insurance Commissioners (NAIC) has formally released its Reinsurance Regulatory Modernisation Proposal, which will allow the recognition of foreign regulators...

Cayman Islands-based Greenlight Capital Re has posted a $2.1mn net loss for the third quarter against a healthy prior-year period $17.5mn profit, due to a significant investment income loss.