October 2006/5

Independent broker BMS Group has appointed ex-banker Alexander Johnston as its non-executive chairman.

Ratings agencies have responded positively to Converium’s $295mn sale of its US operations to National Indemnity on 17 October.

Rating agency Fitch last week provided an update to its unsolicited Q-IFS ratings for German insurers that sparked controversy ahead of their launch last year.

Bermudian-headquartered Endurance Specialty Holdings is pulling out of the offshore energy market and parting company with Paul Upton, who ran the business out of its London subsidiary, our sister title The Insurance Insider revealed last week (17 October

The first senior Lloyd’s executive to leave under the new regime of Richard Ward is Steve Quiddington, the Corporation’s former director of Operations.

Few of the 34,000 Lloyd’s Names who reinsured themselves into Equitas in 1996 probably thought it would happen, but it is now possible they will receive a small windfall following Friday’s (20 October) transaction with Berkshire Hathaway.

Chaucer Insurance Holdings plc is in talks to launch a new Lloyd’s syndicate with the former QBE Limit underwriter, Mark Harrington.

Colemont Insurance Brokers Ltd - the recently formed London arm of US wholesaler Colemont Corporation – announced on 17 October that it had appointed Andrew Hinds as managing director of its treaty reinsurance division.

Broker Howden has today (23 October) announced the launch of a special risks global wholesale broking arm for small and medium sized brokers.

Specialist insurer Hardy Underwriting Group plc received approval from Lloyd’s for its new Syndicate 3820 on 19 October.

The decision of the US Court of Appeals on 18 October to deem the 9/11 terrorist attacks on the Twin Towers as one event has left both sides claiming victory.

Recently, AM Best appears to be singing from a different song sheet to that of the other rating agencies.