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Lloyd’s appoints Ward as new chief executive
As first revealed by The Insurance Insider on 6 February, Lloyd’s has chosen the former head of the International Petroleum Exchange (IPE) Dr Richard Ward to become the next chief executive of Lloyd’s following the departure of Nick Prettejohn at the...
07 March 2006
Brokers want the ammunition of more business
Insurance brokers want (re)insurers to write more business with their excess capital according to Chris Klein of Benfield. “When I was a soldier I could never have too much ammunition, and I don’t recall anyone ever returning excess ammunition...
06 March 2006
Marsh UK scraps final salary pension
Supplementary benefits removed for all but the senior ranks in efficiency drive… Marsh UK is in the process of scrapping its final salary pension scheme for its staff and ceasing supplementary benefits for all but the highest earners...
06 March 2006
Hardy trading ahead of expectations
Lloyd’s insurer Hardy Underwriting has forecast today (6 March) that its 2005 profits will be ahead of expectations. In a statement to the Stock Market the company said: “The profit before tax of Hardy Underwriting Group for the year ended...
06 March 2006
Amlin impresses with record year
Lloyd’s insurer Amlin reported last Wednesday (2 March) a record result of 25.4 percent of capacity for the 2003 year of trading on Syndicate 2001, beating the previous record of 21.7 percent on the 2002 account. The company said the result...
06 March 2006
Renewal growth at rejuvenated SCOR
French reinsurer SCOR has reported a 25 percent increase in premium income renewed at 1 January for non-life, credit and surety treaties. The group’s recovery towards profitability after the travails of 2003 continued with overall premium income up...
06 March 2006
AIG parts company with another Starr agency
Giant insurer American International Group (AIG) has formed a new unit, AIG Specialty Excess, in order to handle all in-force, new and renewal business currently handled by CV Starr & Co agency, a subsidiary of CV Starr & Co, Inc.
06 March 2006
Gen Re execs drop APRA appeal
Former Gen Re executives Geoffrey Barnum and Christopher Byatt have dropped their appeals to the Australian regulator The Australian Prudential Regulation Authority (APRA) over their disqualifications. The two were disqualified by the APRA...
06 March 2006
Validus appoints CFO; preparing ground for early IPO?
“Class of 2005” start-up Validus Holdings Ltd announced today (6 March) that former Merrill Lynch investment banker Joseph E. (Jeff) Consolino has been appointed chief financial officer and executive vice president of the company and its subsidiary...
06 March 2006
Quanta counts cost of devastating downgrade; future bleak
Shares in (re)insurer Quanta Capital Holdings Ltd collapsed last week after the company admitted it was putting itself up for sale following deteriorating losses and a downgrade by rating agency AM Best from the crucial A- to B++.
06 March 2006
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