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Hawaii makes securitisation easier for captives
Hawaiian governor Linda Lingle has signed a new law making the transfer of insurance-linked securities to the capital markets more efficient for captives.
26 June 2008
Greenlight for £187mn Marsh outsourcing deal
Capita Group Ltd and Marsh UK have finalised a 10-year outsourcing deal, worth £187mn, that will see around 600 staff transfer to the outsourcing giant, as predicted earlier this week by The Insurance Insider.
26 June 2008
KPMG fined £500,000 over failures at Independent Insurance
The auditors of failed insurer Independent Insurance have been fined £500,000 and ordered to pay costs of £1.15mn by the UK accountancy watchdog after a tribunal found the firm's conduct "seriously below the appropriate standard".
25 June 2008
Jardine reappointed LMA chief
Paul Jardine, COO of Catlin Group, has been returned as chairman of the Lloyd's Market Association (LMA).
24 June 2008
Willis recruits Allianz executive for Brazil unit
Willis Group Holding's international division has recruited former Allianz executive Margo Black to head up its reinsurance operation in the newly deregulated Brazilian market.
23 June 2008
Weak pricing worse than credit crisis: Swiss Re
Insurers face a greater threat from weak pricing than from the credit crisis in the months ahead, according to Swiss Re.
23 June 2008
Marsh UK announces new CFO
Angus Cameron is to join Marsh as CFO of its UK operations, parent company MMC confirmed last week.
23 June 2008
Assurant buys more for less
US insurer Assurant Inc has announced the completion of its catastrophe reinsurance programme for 2008 and, with rates falling, was able to buy additional cover.
23 June 2008
Chubb appoints new COO
The Chubb Corporation has appointed John Dengan as vice chairman and chief operating officer among several senior promotions at the US firm.
23 June 2008
London market underestimates rate softening
Around three-quarters of London market insurers believe they will underestimate the impact of rate softening, according to a report from Ernst & Young (E&Y).
23 June 2008
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