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  • Lloyd’s CEO Richard Ward has told the market he wants to see all claims transacted electronically by the end of next year.
  • Willis became the latest of the international brokers to announce job losses as part of an efficiency drive with confirmation by the company yesterday that it would cut 400 positions.
  • Bermudian-headquartered (re)insurer Aspen Insurance Holdings Ltd reported net third quarter profit of $95mn, or $0.94 per share, on 25 October.
  • Lloyd’s CEO Richard Ward has told the market he wants to see all claims transacted electronically by the end of next year.
  • World number three broker Willis Group Holdings Limited reported last night (25 October) net income of $89mn or $0.56 a share for the third quarter 2006, doubling the $45mn or $0.28 a share booked in the prior-year period.
  • Despite both comfortably outpacing earnings projections, Bermudian rivals ACE Limited and XL Capital met with very different responses from analysts at Morgan Stanley as they released third quarter results overnight.
  • IPC Holdings joined its fellow Bermudian reinsurers by bouncing back from last year’s record third quarter losses and posting a profit this year, it reported on 24 October.
  • Canopius has bought fellow Lloyd’s insurer Creechurch Underwriting Ltd in a deal that will create a £450mn capacity syndicate next year, The Insurance Insider can reveal.
  • Lloyd’s insurer Wellington plc has confirmed it is in takeover talks with rival Catlin Group Ltd.
  • US-headquartered Arthur J Gallagher & Co announced last week (19 October) that Patrick Gallagher Jr will add the post of chairman of the board to his current responsibilities as president and CEO of the broker.