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  • Although 2005 was the costliest year ever for (re)insurers in terms of natural catastrophes and specifically hurricanes, reports from European giants Munich Re and Swiss Re have warned that the industry should brace itself for similar events in the...
  • Start-up Ariel Re has continued to build its management team by recruiting from its rivals. In recent weeks the $1bn capitalised reinsurer has poached a number of senior executives, including the former ACE Asset Management Inc chief operating officer.
  • Lancashire Re became the second Bermudian start-up to reveal its 2006 trading performance when it estimated writing $165mn in gross premiums by 1 March. “We feel we have got off to a very good start. What we’re seeing is a very patchy market, but we...
  • Results at UK insurer Royal & Sun Alliance will be analysed closely for worsening exposures to Hurricane Wilma, which tore through the US Gulf and Mexico last October. The insurer – which has seen its share price climb leap more than 50 percent to...
  • The brokers working to achieve peer-to-peer initiatives with the “gang of six” Lloyd’s underwriters have been revealed as Aon, Benfield, Willis and Marsh. The “gang of six”, or G6, is the breakaway group of powerful insurers which has combined with...
  • UK-listed broker Jardine Lloyd Thompson Group plc (JLT) is to undergo a radical restructure that will merge its UK Corporate Risks and JLT Risk Solutions, Insider Week can reveal. Following the merger – due to complete by the third quarter 2006...
  • The Financial Services Authority (FSA) has cancelled Xsavi Ltd’s permission to trade because of the firm’s failure to comply with standards and inadequate financial resources. It is the first enforcement cancellation taken against a general...
  • Munich Re chief executive Nikolaus von Bomhard has said the industry will not end the problems over its reputation while brokers and carriers continue to own significant stakes in each other. Dr von Bomhard said brokers could not say they were...
  • At a time when Willis Corp is building a grand edifice opposite the Lloyd’s building as its new global headquarters, Aon Ltd has revealed that it is considering deserting the City and relocating to the burgeoning Docklands.
  • The future of PXRE remains clouded, as the troubled reinsurer reported fourth quarter 2005 net losses of $447mn on the back of deepening hurricane losses, and admitted that it could lose 75 percent of its clients as a result of downgrade triggers.