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  • Underwriting agency Dual International has announced the launch of a new operation, initially specialising in Directors & Officers (D&O) and Professional Indemnity (PI) insurance for SMEs, based in Sydney, Australia. Other areas the new business will focu
  • Listed Lloyd's insurer Beazley Group plc reported falls in both rates and premiums in its first quarter trading update this week.
  • Xchanging is planning to raise up to £150mn in a planned April initial public offering (IPO) which could see the firm valued at over £400mn, Insider Week can reveal.
  • In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
  • Companies rarely volunteer to forego a lucrative proportion of their revenue streams but that is exactly what the industry’s international brokers have been doing in the wake of Spitzer’s allegations of price-fixing at Marsh.
  • Atrium Underwriting plc has increased the loss estimates from Hurricane Katrina on its two syndicates from £42.7mn to £52.7mn. The majority of the increase occurred on Syndicate 609 which climbed from £32.8mn to £42.6mn.
  • Private equity giant 3i Group plc has hired a team led by Bruce Carnegie-Brown, the former Marsh executive who left the firm suddenly in May this year.
  • The UK Court of Appeal has sent a sigh of relief among London market insurers after over-turning last year’s controversial GoshawK vs Tyser decision which ruled brokers were not obliged to produce documents previously shown to underwriters.
  • Randall & Quilter (R&Q), the run-off acquisition and management firm, has continued its strategy of acquiring service companies with a deal to pay up to $6.9mn to acquire Bermuda-based Quest Management Services Ltd.
  • Independent (re)insurance broker BMS Group reported a 2 percent upturn in 2005 pre-tax profits to £4.5mn last week. "The breadth and strength of our portfolio has ensured that overall we have remained solidly profitable in 2005, notwithstanding the...