October 2006/5

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.

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.

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

The insurance industry must make attracting and retaining young talent one of its highest priorities, according to Marsh.

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.

US-headquartered Arthur J Gallagher & Co announced last week (19 October) that Patrick Gallagher Jr will add the post of chairman of the board to his current responsibilities as president and CEO of the broker.

Mike Walker has replaced Tony McMahon as head of KPMG’s Restructuring Insurance Solutions Practice.

Fairfax Financial Holdings controlled reinsurer Odyssey Re restated its results for the past five years on 16 October, correcting accounting errors relating to its investments.

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

Listed broker Jardine Lloyd Thompson Group plc has beaten off fierce competition to win the contract as insurance construction partner for the London Olympics in 2012.

Novae Group plc’s Lloyd’s platform today announced it will merge its Syndicates 1007 and 2147 for the 2007 year of account.