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  • Bermudian (re)insurer IPC Re announced on 25 March that its net income rose by over 42 percent to $62.65mn for the first quarter of 2006.
  • In a surprise move, reinsurance giant Swiss Re announced last week that Jacques Aigrain will succeed John Coomber as its chief executive.
  • Fairfax Financial Holdings controlled US reinsurer Odyssey Re has reached an out-of-court settlement in its litigation with Gulf Insurance Company, it announced last week.
  • It has become customary to add to the woes of syndicate members by declaring losses not only when an account is due to close after 36 months; but also at quarterly intervals at any point in the normal three-year life of an account, or thereafter during th
  • Zurich deny cover on WTC shopping mall Zurich are denying they insured the WTC shoping mall after the leaseholder Westfield America Inc claimed for losses arising from the 11 September attacks.
  • Canadian investment giant Fairfax Financial Holdings has embarked on a buyback programme of up to 1.6mn of its voting shares -which could cost it around $660mn at current stock prices and represents nearly 10 percent of the firm's publicly traded float.
  • Amlin has walked away from its proposed bid for fellow Lloyd’s vehicle Chaucer.
  • Capita Group plc has won the £200mn contract to run Marsh UK's back office in a deal which will see 650 of the broker's staff move to the outsourcing firm.
  • Zurich Financial Services (ZFS) has finally closed its London market arm Zurich Specialties London, while announcing a slew of senior appointments.
  • John Charman, the former Lloyd’s deputy chairman and founding president of AXIS Capital, has been ordered to pay his ex-wife £48mn in their divorce settlement.