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El Nino keeps hurricane season quiet
Scientists have identified the return of the Pacific weather phenomenon known as El Nino as one of the reasons for the benign hurricane season so far this year.
18 September 2006
Capital benefits for effective ERM, say rating agencies
Alongside diversification, the leading rating agencies were intent on raising the profile of Enterprise Risk Management (ERM) for (re)insurers at the 2006 Monte Carlo Rendez-Vous last week.
18 September 2006
Omega also moves to Bermuda
Omega Underwriting Holdings Plc has become the second Lloyd’s (re)insurer in a week to confirm plans to redomicile to Bermuda and the first to confirm it has received clearance from the UK authorities.
18 September 2006
Hastings-Bass departs JLT
UK-listed broker Jardine Lloyd Thompson Group plc (JLT) has parted company with John Hastings-Bass, the chairman of its international retail broking operations.
18 September 2006
Aspen parts company with three senior execs
Bermudian-headquartered (re)insurer Aspen Insurance Holdings Ltd confirmed last week (11 September) the loss of Nick Bonnar and Ian Beaton.
18 September 2006
Novae profits slide
Novae Group plc announced on 15 September that its pre-tax profits fell to £16mn for the half year, compared to £27.7mn in the prior-year period.
18 September 2006
Oxygen launches reinsurance arm
London-based broking proposition Oxygen Holdings plc launched its reinsurance arm, Oxygen Re, last week. Oxygen Re will cater for all types of non-marine, marine and aviation treaty reinsurance and retrocession covers on a
18 September 2006
Swiss Re withdraws $500mn of retro capacity following GE deal
Up to $500mn of retrocessional capacity will be withdrawn from the market following the completion of Swiss Re’s acquisition of GE Insurance Solutions earlier this year.
18 September 2006
MMC to shed a further 750 jobs in cost cutting measures
Marsh & McLennan Companies (MMC) announced on 15 September its second major restructuring in less than two years with news that it plans to shed 750 jobs as part of cost-cutting measures that it says will produce savings of $350mn a year.
18 September 2006
Omega also moves to Bermuda
Omega Underwriting Holdings Plc has become the second Lloyd’s (re)insurer in a week to confirm plans to redomicile to Bermuda and the first to confirm it has received clearance from the UK authorities.
18 September 2006
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