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Willis job cuts as profits grow; Aon posts flat Q4 income
Insurance broker Willis Group Holdings revealed it would be reducing its headcount by an extra 100 people as it reported annual profits had grown to $449mn last year, compared to $281mn in 2005.
13 February 2007
Benfield rebuilds after acrimonious defections
Although Aon Corp's audacious swoop for rival Benfield's facultative team continues to generate acrimony between the two firms, the UK-headquartered reinsurance broker has begun the process of recruiting new talent.
13 February 2007
Sea Launch explosion threatens space profits
The recent launch explosion involving an SES New Skies Boeing-built satellite on a Sea Launch platform is likely to cost space insurers $256mn, with potential for further claims in the marine market.
13 February 2007
Brit closes on RI3K sale
UK insurer prepared to retain minority stake
13 February 2007
Hannover Re to lay off recoverables risk
Hannover Re is poised to enter into a landmark financial transaction that will lay off credit risk on its reinsurance recoverables to the capital markets, a move first revealed by The Insurance Insider in January last year.
13 February 2007
London News Digest
FSA follows Bermuda in raising fees; Lancashire reassures after Florida actions; Three-year electronic target for London market; Novae sees reduced deterioration on legacy exposures...
13 February 2007
STATUS MONITOR
US property catastrophe - a changing climate; State Farm legal developments; Florida action on reinsurance collateral requirements; National catastrophe programme considered
13 February 2007
Europe leading a march towards transparency
The Kroes' investigation could have a significant impact on the broker model as buyers are encouraged to contribute...
13 February 2007
Lloyd’s exposed to North Korean loss
Three Lloyd’s syndicates have underwritten over 50 percent of a controversial EUR45mn North Korean reinsurance claim, according to legal documents obtained by The Insurance Insider.
13 February 2007
Broker News
Former Heath boss replaces Bucknall at Willis; Marsh receives China first ; Guy Carpenter appoints Frankland as UK head
13 February 2007
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