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China’s reinsurance cede to top $13bn by 2010
In an announcement that will come as good news to early entrants to the Chinese reinsurance market, the China Insurance Regulatory Commission has predicted that demand for reinsurance is expected to reach 100 billion yuan ($13.2bn) by 2010 when total prem
16 July 2007
Hayes joins JLT Global Risks
London market broker Jardine Lloyd Thompson has announced the appointment of Ron Hayes as managing director of its Global Risk Solutions Division.
16 July 2007
QBE continues expansion with Swiss acquisitions
QBE Insurance (Europe), subsidiary of Australian (re)insurer QBE Insurance Group Ltd has announced its intention to form QBE Switzerland with the acquisition of two Swiss motor insurance businesses.
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
Securities fraud lawsuits on the wane
For the second consecutive year, the number and total dollar value of US securities fraud class action lawsuits were well below historical averages.
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
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
S&P pours OIL on mutual’s troubled waters
Rating agency Standard & Poor’s (S&P) have removed Bermudian energy mutual Oil Insurance Ltd (OIL) from CreditWatch with negative implications and affirmed its A-counterparty credit and financial strength ratings. The outlook is negative.
16 July 2007
Bryanston Insurance Company Limited raises payment to 59 percent
Creditors of Bryanston Insurance Company Limited are to receive a payment percentage of 59 percent after the scheme administrator, Paul Evans, raised the amount by another 12 percent.
16 July 2007
GCFac three win Court of Appeal jurisdiction ruling
The heads of the GCFac team that defected to rival Integro Ltd in April have won a UK Court of Appeal judgment preventing former employer Guy Carpenter from suing them in New York.
16 July 2007
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