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  • Aon Re Global appears to have pulled off a coup with the hiring of Elliot Richardson, currently head of facultative reinsurance at rival Benfield Group, to run its global Fac operation. According to market sources, Richardson may be joined by up to forty
  • Despite improvements in underwriting, an increased tax burden and lower investment results meant the US property & casualty insurance industry saw its net income after tax fall almost ten percent in the first half of 2006. According to figures from ISO..
  • Benfield Corporate Risk announced the acquisition of a Norwegian marine and energy broker , Parisco AS, on 28 September. The sale will see Parisco AS and its subsidiary Parisco Marine AS, which had net assets of around £200,000 at the end of last year...
  • The International Underwriting Association (IUA) has elected Stephen Riley as its new chairman it announced today (2 October). Riley, an executive director and board member of Global Aerospace Underwriting Managers, takes over from colleague Tony Medniuk
  • Bermuda-headquartered Catlin Group confirmed on 27 September that it is to enter into a catastrophe swap agreement that would provide it with coverage of up to $200.25mn for global natural catastrophes. The deal marks the first publicly rated...
  • Although premium growth in China has exceeded all expectations in recent years the country’s insurance market is still in its infancy, according to a report by the reinsurance broker Benfield Group. Benfield said that total premiums increased strongly...
  • Chaucer Syndicates Ltd has become the latest Lloyd’s insurer to unveil plans to build a Singapore platform. In a statement to the London Stock Exchange last week, Chaucer said it will appoint energy underwriter Chris Wildee as chief executive of the...
  • RenaissanceRe founder and former chairman and CEO Jim Stanard and two other ex-employees of the Bermudian reinsurer have been charged with securities fraud by the Securities and Exchange Commission (SEC) over a finite reinsurance transaction.
  • Provisional liquidator Grant Thornton last week announced creditor approval for its proposed UIC Insurance Company Limited scheme of arrangement that looks set to boast the rare distinction of paying out more than 100p in the £1. If the scheme is...
  • With last week’s move by UK insurer Royal & Sun Alliance Group plc (R&SA) to clear the decks on its US legacy issues, speculation has begun to mount that the move may pave the way for renewed interest from potential bidders for the company...