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IG Group to increase retention in first renewal salvo
The International Group (IG) of protection and indemnity (P&I) clubs has announced that it is to increase the individual retention of its member clubs to $9mn at the next renewal on 20 February 2013.
26 November 2012
Butt: Bermuda well-placed to maintain global edge
Bermuda is still well-placed to maintain its global prominence in the (re)insurance markets despite the increasing trend for "regionalisation" of risk placement, Axis chairman Michael Butt told the London market last week.
26 November 2012
Truell now preferred Equity bidder as £30mn Lloyd’s charge nears
Former Equity Redstar owner Eddie Truell is the preferred bidder for the troubled Lloyd's motor business, as Australian parent IAG prepares to sink a further £30mn into Equity to satisfy the Lloyd's Performance Management Directorate.
26 November 2012
AIR revises Sandy loss towards $20bn
Catastrophe modeller AIR Worldwide has increased its estimate for insured losses from Superstorm Sandy to $16bn to $22bn.
26 November 2012
PE firms buy Alliant and USI Holdings
Kohlberg Kravis Roberts & Co (KKR) and Onex Corporation have acquired Alliant and USI Holdings respectively in the two most significant broker M&A transactions this year.
26 November 2012
Up-for-sale Qatarlyst in frame to drive London digital placement platform
The London market is edging closer to setting up an electronic placing platform that could move its more than 300-year-old paper underwriting traditions into the digital age.
26 November 2012
Digest
RSA hires Deloitte chairman; Soames says stay buccaneering; Skuld port of call; Garwyn hires Ives; Plumeri on fiscal cliff; Q-Re gets the Saacke; Gallagher goes Down Under; Crawley swaps jobs after 30 years; Aviva lands new boss
26 November 2012
All change at Xchanging
UK outsourcing firm Xchanging is poised to announce the hire of senior Hewlett Packard executive Adrian Guttridge to head its growing insurance practice, it is understood.
26 November 2012
The seven ages of major loss
In this business all major catastrophe losses seem to follow a distinct life cycle in the minds of those directly involved.
26 November 2012
Up-for-sale Tawa to slash headcount
Up-for-sale (re)insurance services provider and run-off buyer Tawa plc is seeking cost savings that will likely lead to mass redundancies at its services companies.
26 November 2012
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