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Aon unveils global restructure in post-Spitzer age
The walls built at Aon between reinsurance, wholesale and retail following Eliot Spitzer's attacks on the US P&C industry are being dismantled in exchange for distinct trading hubs.
05 January 2010
Lloyd’s Council elections sparks contest for Names’ votes
The upcoming elections for Lloyd's governing body, the Council of Lloyd's, has provoked a bitter contest between candidates seeking to represent the interests of Lloyd's Names.
05 January 2010
AIG executive leaves over pay restrictions
Anastasia Kelly became the first senior American International Group (AIG) executive to publicly leave the firm following the sweeping pay curbs imposed by the Obama administration's pay tsar.
05 January 2010
Armour Re completes PMA acquisition, confirms Ryland hire
Bermuda-headquartered Armour Reinsurance Group has completed its acquisition of PMA Capital Insurance Company – the former reinsurance and excess and surplus lines company of PMA Capital Corporation.
05 January 2010
Towers Perrin and Watson Wyatt tie-up complete
The merger between actuarial and risk management firm Towers Perrin Forster & Crosby and professional services provider Watson Wyatt Worldwide has been completed.
05 January 2010
Texas insurer launches reinsurance brokerage
Texas-based US Risk Insurance Group has announced that it will diversify into the reinsurance market as Goss Reinsurance Brokers.
05 January 2010
KPMG appointed to liquidate ESG Reinsurance
Defunct medical and personal accident reinsurer ESG Reinsurance (Bermuda) will no longer continue in run-off and has been placed in liquidation by the Supreme Court of Bermuda.
05 January 2010
Cat bond market likely to grow in 2010
Cat bond issuance next year is likely to be higher than in 2009, as the pricing premium to the traditional market continues to narrow while investor appetite for securitised reinsurance risk remains strong.
05 January 2010
Lloyd’s claims segmentation pilot starts
A pilot scheme to segment claims handling in the Lloyd's market has come into effect after being trialled last September.
05 January 2010
Lloyd’s to compensate HIH Names
Nearly nine years after the infamous collapse of insurer HIH – still the largest corporate bankruptcy in Australia – Names who suffered losses on the group's Lloyd's syndicates are set to receive compensation from the Corporation.
05 January 2010
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