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  • Canopius has bought fellow Lloyd’s insurer Creechurch Underwriting Ltd in a deal that will create a £450mn capacity syndicate next year.
  • Despite the recent loss of three of its four most senior underwriting managers, Aspen Insurance Holdings Ltd chief executive Chris O’Kane was confident the departures would not damage the group’s business.
  • The largest Lloyd’s insurer is set to be created following the agreed takeover terms of Wellington Underwriting plc by Catlin Group Ltd, The Insurance Insider can reveal.
  • 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.
  • 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.
  • Lloyd’s CEO Richard Ward has told the market he wants to see all claims transacted electronically by the end of next year.
  • 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.