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  • Max Re’s decision to focus more on traditional reinsurance has inspired the reinsurer to reshuffle its senior management. Former ART vice-president John Doucette has been appointed president and chief underwriting officer of Max Re Ltd’s reinsurance divis
  • After a tumultuous six months, the Board of directors of Swiss reinsurer Converium have replaced chief executive Dirk Lohmann with the company’s managing director Terry G Clarke.
  • Despite reporting healthy earnings, broker Willis Group disappointed analysts with its lack of organic growth for the fourth quarter.
  • Western Australia has been hit by two cyclones, George and Jacob, over the past few days as the warning signs to (re)insurers that the wind could return with vengeance this year continue.
  • The first breakthrough in passing meaningful tort reform in the US came on Friday (18 February) as President George Bush signed the Class Action Fairness Act into law in the first bill signing ceremony of 2005.
  • Ever since 14 October 2004 – the date New York attorney general Eliot Spitzer stunned the industry with his complaint against MMC - Willis Corp has attempted to distancing itself from the furore over contingent commissions.
  • US-based brokers Arthur J Gallagher & Co (AJG) and Hilb Rogal & Hobbs (HRH) disappointed analysts with first quarter profits down on expectations last month as the top line suffered from the impact of declining insurance rates.
  • With 2006's bumper returns banked, and clear signs of rates softening, (re)insurers are resurrecting capital management plans in earnest.
  • Despite the old saw that bad years get worse, latest estimates from Lloyd’s syndicates showed only limited deterioration on the dreadful 2001 underwriting year.
  • Eliot Spitzer, New York’s governor-elect, has nominated Willis Group’s general counsel, Eric Dinallo, for the post of the state’s insurance superintendent in his administration.