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  • The Salvage Arbitration branch of Lloyd’s Agency Department has appointed John Reeder QC as its appeal arbitrator.
  • Giant reinsurer Swiss Re has agreed to acquire General Electric’s GE Life businesses for £465mn, it announced on 13 October. Swiss Re said the transaction would provide further scale and infrastructure for Swiss Re’s Admin Re business in the United Kingd
  • US reinsurers enjoyed a strong first half of the year, as rate rises in key property & casualty lines together with mild catastrophe losses contributed to favourable underwriting conditions, according to broker Benfield in its latest report on the sector.
  • Royal & Sun Alliance Insurance Group plc revealed a group restructuring last week to reflect the focus of the company into its UK, International and emerging markets.
  • Lloyd’s insurers have geared up balance sheets to cash in on attractive post-Katrina underwriting conditions, according to research by equity house Numis Securities Ltd.
  • Swiss reinsurer Converium received approval from the Malaysian regulator on 10 October to write retakaful reinsurance through its local office.
  • Rating agency AM Best is to assess the “tail risk” attached to sidecar operations that are inadequately capitalised.
  • Benfield Group has warned that trading profits are likely to be £10mn lower in 2006 than previously expected because of the loss of senior members of its facultative team to a rival firm.
  • Berkshire Hathaway chairman Warren Buffett has warned his senior managers against using “accounting gimmicks” to manipulate stock options in a memo.
  • US insurer Allstate Corp announced the next phase of its leadership succession plan on 9 October, with George Ruebenson set to take over from Thomas Wilson as president of Allstate Protection.