October 2005/4

Industry veteran Don Kramer has agreed to buy the infrastructure of GoshawK’s Rosemont Re to establish a new $750mn+ private equity backed Bermudian reinsurer.

Rating agency AM Best has slashed its financial strength ratings of distressed Bermudian reinsurer Rosemont Re from A- (excellent) to B (Fair) with negative outlook. The reinsurer – which announced on the 17 October it was close to run-off after...

Lloyd’s insurer Catlin announced today (19 October) that it expects to be hit with estimated net losses of $60mn from the damage caused by Hurricane Rita.

Former American International Group (AIG) chief executive, Maurice “Hank” Greenberg, is countersuing his former company through Starr International Company (SICO) in a growing dispute over control of a 12 percent stake in AIG worth nearly $20bn.

GE Insurance has announced the merging of its South East Asian operations within its Singapore office with the Malaysian being placed into run-off immediately. The move is part of a business restructure and the Singapore office will handle all...

Lloyd’s insurer Amlin has appointed Peter Tavner as deputy group actuary. Tavner joins Amlin from Lloyd’s Risk & Reserving Unit. Tavner has worked in the industry for 15 years for Commercial Union, Swiss Re and Lloyd’s and is a member of the...

Marsh has appointed the former HBOS head of group regulatory risk Paul Moore to the new role of head of compliance for Europe and the Middle East at the broking giant. At a global level, Moore will report to Marsh Inc’s head of compliance...

Professional Indemnity veteran Reg Brown has retired from the board of Lloyd’s insurer Kiln plc with immediate effect. In an announcement to the London Stock Exchange today, Kiln’s chairman Nick Cosh explained: “Some months ago Reg indicated his wish..

Although the industry has learnt the business lessons of the 9/11 terrorist attacks, only those companies that suffered actual loss of life in the tragedy have developed sufficient risk strategies, according to research released today (17 October).

In his capacity as Market Reform Group (MRG) chairman, Lloyd’s outgoing CEO Nick Prettejohn has written to the London market outlining the next practical steps to be taken toward achieving contract certainty.

Advent’s ‘future viability’ in doubt... Canadian holding company Fairfax has received another savaging at the hands of Morgan Keegan analysts John Gwynne and Matthew Cantrell. In a research note released on 10 October, the US based analysts...

A bullish stance on the insurance broking sector by analysts at Numis Securities fuelled a price hike in the shares of brokers Benfield and JLT last week. In the research note, released on 10 October, Numis analysts Nick Johnson and Nick Gradidge...