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Travelers and St Paul win dismissal of Madoff D&O suit
A lawsuit filed by Madoff-hit Greenwich National Bank and several other investment institutions seeking to compel US insurer Travelers and its subsidiary, St Paul Mercury Insurance Company, to pay defence costs for underlying lawsuits has been dismissed.
16 April 2010
More HSBC staff resign in wake of Marsh deal
Specie brokers Colin Hasler, Gary Stanley and fine art broker Bob Diggory are the latest staff to walk away from Marsh-acquired HSBC Insurance Brokers (HIBL), The Insurance Insider can reveal.
16 April 2010
QBE to acquire $1bn premium US crop insurer
Australian insurer QBE has made a $565mn move for US crop insurer NAU Country Insurance, as it looks to continue its strategy of growing through acquisition.
16 April 2010
Icelandic volcano ash not major BI exposure for aviation market
The closure of a large swathe of northern European airspace due to volcanic ash clouds is not thought to be a major business interruption (BI) exposure to the aviation sector, according to market experts.
15 April 2010
ISG launches Lloyd's Broker
London-based (re)insurance service provider and acquirer Independent Services Group Limited (ISG) has received approval from Lloyd's for its subsidiary, Independent Broking Solutions (IBS), to be a registered Lloyd's Broker.
15 April 2010
Beazley hires ING Re exec to lead A&H division
Lloyd's and international (re)insurer Beazley has hired Scott Machut to head up business development at its US accident and health (A&H) division.
15 April 2010
Securities litigation drops but firms warned not to ‘let guard down’
Securities litigation filings fell 39 percent in the first quarter of 2010 compared to a year ago, with 178 suits filed, compared to the record-breaking 294 suits filed in Q1 2009 at the height of the credit crisis backlash.
15 April 2010
London tax proposals welcomed by UK opposition
Proposed changes to the UK tax regime for international specialty (re)insurers have been welcomed by official opposition the Conservative Party.
15 April 2010
Colemont placed insurance for AeroUnion airbus crash
The London arm of broker Colemont International placed the insurance programme for the Airbus A300 cargo aircraft which crashed late Tuesday evening (14 April) in Mexico, The Insurance Insider understands.
15 April 2010
Guy Carp creates new London role for Marcell
Guy Carpenter's head of American operations Andrew Marcell is moving aside in favour of colleague Chris McKeown to take up the newly created role of CEO of global practices and head of placement strategy.
14 April 2010
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