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IPCRe hurricane losses grow
Growing losses from last autumn’s hurricanes contributed to property catastrophe specialist IPC Re reporting lower than expected fourth quarter results last Tuesday (22 February).
28 February 2005
Alea replaces Group underwriting and US chiefs
London Stock Exchange quoted reinsurer Alea Group Holdings has removed its group underwriting director and US operation chief executive in a management reshuffle weeks before it is due to publish its 2004 results.
28 February 2005
Imagine Group buys Danish Re
MMC-backed Danish Re – which writes business at Lloyd’s through its Syndicate 1400 – has been bought by Imagine Insurance Company Ltd, a subsidiary of Barbados-based Imagine Group.
28 February 2005
Clapham leaves Brit
Simon Clapham, the active underwriter of Brit Syndicate 2987, left Brit Insurance Holdings last week.
28 February 2005
JLT blames Risk Solutions for poor performance
UK’s largest broker Jardine Lloyd Thompson Group Plc (JLT) today (28 February) announced results in line with its profits warning of November last year, blaming the performance on “internal and external factors” at its JLT Risk Solutions division, along w
28 February 2005
Chubb seeks to void Nortel’s D&O policy
D&O insurers’ willingness to void cover for one of the most common source of claims – exposures arising from financial restatements which then spark securities class actions – has led Chubb Insurance Company to apply to a Canadian Court to rescind its cov
28 February 2005
Benfield poaches Marsh’s global marine & energy chief
The end of February brought news of more MMC executives defecting to rival organisations including reinsurance broker Benfield Group’s capture of Marsh’s head of global marine and energy practice John Lapsley.
28 February 2005
Saacke switches to Endurance
Bermudian headquartered Endurance has appointed Gunther Saacke to head up the property and casualty treaty reinsurance operation in its London office.
28 February 2005
Cooper Gay on the rise
(Re)insurance broker Cooper Gay announced record results this month (17 February) with total income up 3 percent to £52.1mn and pre-tax profits increasing by more than 2 percent to £8.3mn.
28 February 2005
St Paul Travelers confirms Cassidy Davis sale to Jubilee
As predicted in the December 2004 edition of our sister publication The Insurance Insider, Jubilee Managing Agency Ltd has announced the acquisition of the Cassidy Davis business from St Paul Travelers’ Lloyd’s operation.
28 February 2005
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