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  • UK regulator the Financial Services Authority (FSA) has confirmed Hector Sants as its new chief executive in an internal appointment.
  • Standard & Poor’s (S&P) has reported that, while Enterprise Risk Management (ERM) programmes for the majority of European insurers are “adequate”, the outlook for ERM is “nevertheless positive”.
  • 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.
  • 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.
  • Lloyd’s broker RFIB Group Ltd has snapped up Hugh Champion from Heath Lambert Group to drive its expansion in facilities and binding authority business.
  • 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.
  • Broking giant Aon Corp has said it is in discussions with Chubb Corp over the possibility of accepting supplemental compensation from the US insurer.
  • 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.
  • Rod Fox, CEO of US specialty insurance company Praetorian has parted company with Australian (re)insurer QBE Insurance Group, little more than one month after its’ acquisition by QBE, Insider Week can confirm.
  • UK regulator the Financial Services Authority (FSA) has confirmed Hector Sants as its new chief executive in an internal appointment.