October 2009/4

The well-managed run-off of the Illinois-headquartered Kemper Insurance Cos inspired the US P&C legacy industry to acknowledge Barbara Murray as its Run-Off Person of the Year.

Aon Benfield has moved to strengthen its Benelux division with the appointment of Hans Groot as COO, while adding two new members to its analytics team in the region.

Expansive independent (re)insurance broker Cooper Gay has acquired the majority shareholding in Florida-based reinsurance broker, Reinsurance.com.ar LLC.

Rates and premium levels for airlines have continued to increase for risks renewing in October, though brokers are divided as to the extent of the increases achieved.

The convergence market's uneasy relationship with US liability perils should be rethought, as the prospect of a new era of tort expansion will create opportunities for the sector.

Lloyd's (re)insurer Brit posted an upbeat Q3 management outlook Friday (23 October), as its reinsurance and UK markets business units achieved strong premium growth to offset declines at its global markets division.

Channel Re - the failed financial guarantee reinsurer formed in 2004 by RenaissanceRe, Koch Financial Corporation, Partner Re and MBIA - has begun a tender offer to purchase outstanding shares.

Mirroring the 2009 bounce-back within the global (re)insurance industry, Lloyd's pro forma capital base increased by 13 percent to £16bn in the first half of 2009 and 30 percent year-on-year.

The International Association of Insurance Supervisors (IAIS) highlighted the important role of insurance "as a means of socio-economic development" at its annual conference in Rio de Janeiro last week.

AIG's challenge of retaining its key management may have got tougher last week, after the Obama administration's pay tsar Kenneth Feinberg imposed brutal cuts on the salaries of its most senior executives.

UK regulator the Financial Services Authority (FSA) weighed into the hot political topic of the supervision and regulation of financial institutions deemed "too big to fail" last week.

The recession will continue to drive down demand for the ample insurance capacity in the US property casualty market and keep pressure on pricing in 2010, according to a report by Advisen.