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  • Brit Insurance's bid to acquire its Lloyd's rival Chaucer Insurance Holdings is thought to be at least partially dependent upon agreeing the proportion in cash.
  • US retail broker Arthur J Gallagher has acquired Florida consultancy form YS Liedman & Associates.
  • World's largest insurer AIG confirmed on 29 September that one of its business units was now under criminal investigation by the US Department of Justice for alleged violations of federal securities laws.
  • Bermudian giant XL Capital announced the appointment of industry veteran Herbert Haag to its board of directors on Friday (9 June).
  • Sir Anthony Holland has been re-appointed as the Independent Complaints Commissioner for the Financial Services Authority (FSA) for a second term, which begins today (3 September).
  • Lloyd’s insurer Illium has reached a provisional agreement to expand its 2006 capacity through a coinsurance arrangement with Great Lakes UK, a subsidiary of world’s largest reinsurer Munich Re.
  • Independent Lloyd’s insurer Omega Underwriting Holdings Ltd revealed last week that it made a 6.2 percent profit on capacity in the loss ravaged 2001 underwriting year.
  • Bermudian (re)insurer White Mountains announced Steve Fass as its newly elected president and CEO today (17 October). Fass has been at White Mountains for almost a decade as a senior partner in its reinsurance operations. He will succeed Ray Barrette..
  • HSBC Insurance Brokers has expanded its professional indemnity arm with the appointment of Edward Donne as division director.
  • Extreme weather conditions hit Europe last week with insured claims for flood damage in Switzerland alone estimated at $395mn by Swiss Re.