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Lloyd’s chief gives ultimatum on process reform
Lloyd’s CEO Richard Ward has warned the London market that the “pace of change” on business processes remains too slow and reiterated his willingness to mandate action if necessary.
16 July 2007
Paris Re float gets lukewarm reception
Paris Re shares have slipped by 6 percent since floating on Friday (13 July) with fund managers commenting the company may have been over-priced as it made its debut on the Paris-based European Stock Exchange Euronext.
16 July 2007
Allianz upgraded to AA by S&P
Insurance giant Allianz SE and its core operating companies have been upgraded from AA- to AA by Standard & Poor’s (S&P) as a result of “major and sustained” improvements in its operating performance.
16 July 2007
Tawa group to IPO on London's AIM
Tawa Group is set to float on London’s Alternative Investment Market (AIM) and become the first non-life run-off consolidator to list in London, The Insurance Insider can reveal.
16 July 2007
Cory-Wright heads Sidley dispute practice
Law firm Sidley Austin has confirmed the appointment of Dorothy Cory-Wright to head up its new London-based (re)insurance dispute practice.
16 July 2007
Brit hires technology underwriter
Listed Lloyd’s (re)insurer Brit Insurance Holdings has hired Ben Maidment as Privacy, Cyber and Technology underwriter for its US PI team, which is headed by Janet Henderson.
16 July 2007
Senior ERM appointments at Guy Carpenter
Reinsurance broker Guy Carpenter & Company LLC has announced several senior European appointments, aimed at enhancing the firm’s enterprise risk management and capital markets capabilities.
16 July 2007
Integro CEO sues former employer MMC over departure
Integro Ltd CEO Roger Egan has sued former employer Marsh & McLennan Cos Inc (MMC) alleging he was not properly compensated after being axed by the company in the aftermath of the 2004 bid-rigging affair.
16 July 2007
Aon considers accepting supplemental commissions
Broking giant Aon Corp has said it is in discussions with Chubb Corp over the possibility of accepting supplemental compensation from the US insurer.
16 July 2007
Farmers ploughs new furrow with $500mn contingent capital deal
US insurer Farmers Insurance Exchange has acquired the right to issue $500mn of regulatory capital if it suffers a severe US natural catastrophe loss in the next five years in a pioneering transaction first reported by The Insurance Insider last week.
16 July 2007
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