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Jurd resigns from JLT to join new "boutique" energy unit
AJ Gallagher & Co's (AJG) new onshore/offshore energy and utility broking subsidiary is set to welcome the latest addition to its team - Neil Jurd, who has resigned from JLT Agnew Higgins, Insider Week understands.
04 February 2008
Cooney returns with Aon Capital Markets role
Aon Corp has hired the former Max Re chief executive Bob Cooney as managing director of its Capital Markets division, the unit which provides structured finance and capital markets products to the (re)insurance industry.
04 February 2008
Asbestos reserve pushes Everest Q4 combined ratio to 108.4 percent
Bermudian reinsurer Everest Re reported a 21-point deterioration in its combined ratio, to 108.4 percent for the final quarter of 2007, owing largely to the $311.2mn asbestos charge announced in January.
31 January 2008
Duperreault to head MMC
Brian Duperreault, the former ACE Ltd chief, has been appointed president and CEO of Marsh & McLennan Cos (MMC) with immediate effect, in a bid to boost the fortunes of the ailing financial services group.
30 January 2008
MMC Duperreault hire dilutes Willis bid talk
The arrival of Brian Duperreault at the helm of Marsh & McLennan Cos (MMC) has reduced the likelihood of an imminent takeover bid by Willis Group Holdings, reflected in the rising share price at the smaller broker following the news.
30 January 2008
Allstate reduces reinsurance programme spend
US insurer Allstate Corp has cut its reinsurance programme as it scales back its property book in hurricane-exposed states.
30 January 2008
Bear Stearns ‘applauds’ Gallagher reinsurance decision
Bear Stearns analyst David Small has praised AJ Gallagher management’s decision to sell its reinsurance division and was “encouraged” by plans to reduce its back office workforce by 400 positions.
30 January 2008
Gallagher confirms reinsurance exit decision
AJ Gallagher is likely to receive plaudits from analysts tomorrow – and perhaps even a fillip to its share price - after confirming this evening that it is divesting its reinsurance unit.
30 January 2008
Munich Re reassures on sub-prime; renewals see modest 2.8 percent decline
German giant Munich Re said this morning (30 January) it expects to book record 2007 profits of EUR3.9bn – up from EUR3.5bn in the prior year - as it revealed minimum exposure to sub-prime related losses in the fourth quarter.
30 January 2008
Lloyd’s upbeat despite missing ECF targets
Lloyd's has remained upbeat despite the market missing the 100 percent 2007 target for take-up on usage of electronic claims files (ECF) as it ended the year at 88 percent.
29 January 2008
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