September 2006/4

Bermudian-headquartered (re)insurer Aspen Insurance Holdings Ltd confirmed last week (11 September) the loss of Nick Bonnar and Ian Beaton.

US insurers have received a second boost from the courts as they battle the “wind versus water” claims related to Hurricane Katrina.

There are many in the US insurance industry who have mixed feelings over Eliot Spitzer’s political aspirations.

All four independent directors have resigned from Converium’s UK partner, the Medical Defence Union (MDU), following a dispute over salary disclosure.

Chaucer Syndicates Limited, the managing agency arm of Chaucer Holdings PLC, announced today (18 September) that it has recruited an engineering team.

Aon Corp became the last of the big three brokers to announce that US insurance regulators have eased restrictions on them charging contingent commissions, or Placement Service Agreements (PSAs) on 8 September.

Quanta Capital Holdings announced today (18 September) that it has sold its Environmental Strategies Consulting (ESC) subsidiary, an environmental consulting company.

Novae Group plc announced on 15 September that its pre-tax profits fell to £16mn for the half year, compared to £27.7mn in the prior-year period.

Lloyd’s insurer Kiln plc revealed plans to pre-empt its 2007 syndicate capacity to around £1bn in its interim results statement on 12 September.

Alongside diversification, the leading rating agencies were intent on raising the profile of Enterprise Risk Management (ERM) for (re)insurers at the 2006 Monte Carlo Rendez-Vous last week.

London-based broking proposition Oxygen Holdings plc launched its reinsurance arm, Oxygen Re, last week. Oxygen Re will cater for all types of non-marine, marine and aviation treaty reinsurance and retrocession covers on a

Lloyd’s Names are being asked to support the new sports Syndicate 3334 which was formed in July 2006.