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  • Willis Group shares fell heavily after the broking giant reported third quarter profits below analysts’ expectations and said it was reviewing targets for 2009 and 2010 because of the financial turmoil.
  • UK-listed broker Jardine Lloyd Thompson (JLT) group has appointed Patrick Snowball to its board as a non-executive director.
  • Modelling firm Risk Management Solutions (RMS) almost doubled its initial estimate for industry losses from Hurricane Ike to a range of $13bn to $21bn last week - making it the third most expensive US hurricane in history.
  • Modeling firm Risk Management Solutions (RMS) has almost doubled its initial estimate for industry losses from Hurricane Ike to a range of $13bn to $21bn – making it the third most expensive US hurricane in history.
  • Willis Group shares were trading down heavily after the broking giant reported third quarter profits below analysts’ expectations and said it was reviewing profit targets for 2009 and 2010 because of the financial turmoil.
  • Lloyd’s insurer Amlin plc has revealed its star head of underwriting Tony Holt will stand down from executive responsibilities at the end of year, taking a non-exec board position.
  • Up-for-sale Transatlantic Holdings Inc has become the latest (re)insurer to post a net loss for the third quarter as the combination of financial market turmoil and catastrophe losses weighs heavy on the sector.
  • Securities law firm Klayman & Toskes has filed a class action against a list of prominent investment banks alleging that they failed to identify “misstatements and omissions” in an American International Group prospectus for a debt issue they were underwr
  • Former Independent Insurance executive Keith Rutter has left (re)insurance broker Lockton International for US insurer AmTrust.
  • Bermudian (re)insurer Platinum Underwriters Holdings Ltd reported a Q3 net loss of $45.3mn, compared to $91.3mn for the same point in 2007.