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  • Marsh Inc’s chief executive Brian Storms parted company with another senior executive early in November as the broking giant announced it was to make its President William (Bill) Malloy redundant.
  • Start-ups and pre-emptions suggest 2007 expansion
  • A tsunami is expected to hit northern Japan and Russia today (15 November), the US Pacific Tsunami Warning Center has warned.
  • Oxygen Holdings plc, the London market intermediary backed by high profile figures such as ICAP founder Michael Spencer and former Marsh president Bob Clements, has continued the expansion of its broking operation with the acquisition of the business of S
  • German reinsurer Hannover Re reported a “gratifying” third quarter result in which the group posted net income of EUR123.5mn.
  • Bermudian (re)insurer Max Re Capital Ltd today (14 November) announced that acting chairman and CEO W Marston Becker has been permanently appointed to the position.
  • Aspen Insurance Holdings – the Bermudian domiciled (re)insurer which lost three of its four underwriting heads this summer – revealed plans to leverage its balance sheet last week with a $200mn hybrid offering and details of a share buy-back.
  • Bermudian (re)insurer Allied World Assurance Co (AWAC) bounced back from 2005’s third quarter loss of $283.4mn with a strong $114mn contribution.
  • OneBeacon Insurance Group Ltd debuted on the New York Stock Exchange last Thursday (9 November) at $26 a share. The initial public offering saw the US insurer raise around $600mn, with the majority of proceeds from the float flowing into Bermudian parent
  • American International Group (AIG), the world’s largest insurance company by value, was the latest firm to unveil strong third quarter results on the back of a benign 2006 claims environment.