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Willis to cut 400 jobs
Willis became the latest of the international brokers to announce job losses as part of an efficiency drive with confirmation by the company that it would cut 400 positions.
30 October 2006
Private equity interest in broking sector continues with USI takeover talks
US broker USI Holdings saw its shares leap 8 percent last week after the independent firm admitted it was mulling a private equity buyout offer.
30 October 2006
Transatlantic boasts record quarter
Transatlantic Holdings, the parent of Transatlantic Re, reported record third quarter net income of $106.9mn on 26 October.
30 October 2006
Bermudians return to 3Q profit
Bermudian reinsurers Everest Re and PartnerRe both announced on 23 October that that they had returned to a third quarter profit after last year’s storm losses.
30 October 2006
Cooney resigns from Max Re
Max Re announced today (30 October) that its founding chief executive Bob Cooney has resigned from the Bermudian (re)insurer after the company revealed it had reopened investigations into two finite reinsurance deals.
30 October 2006
Catlin agrees £591mn Wellington takeover
The largest Lloyd’s insurer is set to be created following the agreed takeover terms of Wellington Underwriting plc by Catlin Group Ltd.
30 October 2006
Aon Re appoints Bermuda President
Aon Re Global has promoted Robert Johnston to become president of its Bermuda operations, Aon Re Bermuda.
30 October 2006
Ward prepared to mandate action on electronic claims
Lloyd’s CEO Richard Ward has told the market he wants to see all claims transacted electronically by the end of next year.
30 October 2006
BP Marsh increases broker investments
BP Marsh & Partners plc, the London-based investor in specialist insurance and other financial services related companies, has increased its brokerage investment with the proceeds of its recent AIM listing.
30 October 2006
Novae swoops for Hardy property underwriter
Richard Ikin, the property underwriter who resigned from Hardy Underwriting earlier this month, is set to join rival Novae Group plc, The Insurance Insider can reveal.
30 October 2006
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