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Landmark Aon deal offers new approach for London market
The decision by Aon Ltd to outsource its entire back office Client Operations division could provide the framework for a new approach by London market brokers to processing their business.
11 August 2006
Winterthur Part VII runs into objections
The proposed Part VII transfer to move business out of Winterthur Swiss Insurance Company has run into objections in the High Court.
11 August 2006
WFUM creditors to vote in October
The proposed manager of the WFUM Pools Scheme of Arrangement, PRO Insurance Solutions, has issued scheme documentation and announced that the creditor voting meetings will take place on 27 October 2006.
11 August 2006
PXRE heads for run-off after net income plummets
Beleaguered Bermudian reinsurer PXRE Group admitted it was heading towards run-off after announcing on 8 August that its net income had slipped to a mere $2.1mn for the second quarter.
11 August 2006
Florida (re)insurance relieved by pool and improving forecasts
The stretched Florida insurance market has received some light relief with the announcement of a proposed state-run insurance pool along with the lowering of some of this year's hurricane predictions.
11 August 2006
JLT to overhaul pension scheme; margins fall
Jardine Lloyd Thompson Group plc (JLT) plans to overhaul its staff pension scheme in a bid to reduce the £146mn deficit which hangs over the company.
11 August 2006
Bermuda cashes in on cat climate
Island's (re)insurers enjoy soaring property cat rates in benign quarter, some KRW deterioration ACE sets scene with strong second quarter Bermudian-headquartered ACE Ltd revealed a strong second quarter on 25 July with net income...
11 August 2006
Converium updates on US sale
Swiss reinsurer Converium continues its recovery with another improved quarterly performance, reporting net income of $62.5mn on 8 August, compared with $46.9mn in the prior-year period.
11 August 2006
New body to look at annual venture reform
Lloyd's has upped the ante in the search for a new approach to the annual venture capital structure with the establishment of a working party of leading market figures to address the issue.
11 August 2006
GCFac launches structured team with Lobek hire
GCFac, the facultative arm of reinsurance broker Guy Carpenter, has bolstered its ranks with the launch of a structured risk team headed by former Jardine Lloyd Thompson (JLT) broker John Lobek.
11 August 2006
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