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  • After approving competition directorate proposals, the European Commission (EC) has today (13 June) announced the launch of a competition investigation into the commercial insurance sector.
  • Mike Hammond the former chief executive of broker Marsh's UK operations is to join rival Jardine Lloyd Thompson, it was revealed last month. Staff at JLT were told of the move by senior management and the news ended months of speculation over Hammond's
  • UK Risk managers association AIRMIC has set up a task force in response to the “soaring price” of Directors and Officers cover.
  • Jim Wrynn, the deputy superintendent of the New York Department of Financial Services and chief regulator for the insurance industry, is to take up a position with law firm Goldberg Segalla.
  • Lord Peter Levene, chairman of Lloyd's, has lambasted those who question whether the competitiveness of the City should take precedence in the UK, insisting it is "an absolute priority".
  • French mutual Groupama SA has completed its first insurance linked securities (ILS) transaction with its EUR200mn securitisation of French windstorm risk.
  • Bermudian (re)insurer Everest Re reported a striking increase in net income last Tuesday, the second quarter up 105.1 percent to $109.6mn from $53.4mn last year.
  • Industry give cautious welcome to US Court decisions which reign in excesses of the Wall Street litigation; $1bn settlement removes 309 IPO companies from “laddering” litigation Insurers exposed to the myriad of US shareholder class action suits were
  • Marsh UK is set to join rival Aon in formally agreeing a proposed framework for its new broking model with the Beazley Working Party, The Insurance Insider can reveal.
  • The preparatory hearing of the ‘Independent Three’ former directors of the collapsed UK insurer Independent Insurance took place at Southwark Crown Court this morning (22 January).