September 2008/4

Chris Wallace the head of the commercial client practice at Marsh UK has left the company "to pursue other interests", The Insurance Insider has learned.

HSBC Insurance Brokers has become the latest broker to access the emerging Middle East market after gaining a licence for Qatar.

Beazley Group has acquired the London-based personal accident underwriting agency Momentum Underwriting Management Ltd (MUM) for up to $37.5mn, the quoted Lloyd's insurer has revealed.

AIM-listed Randall & Quilter Investment Holdings plc has announced the acquisition of the parent company of run-off group KMS Group of Companies for £1.78mn, as it continues to eye further acquisitions.

Swiss Re is backing Galileo Underwriting LLP, a new equine bloodstock underwriting agency based in London, The Insurance Insider can reveal.

The financial markets meltdown - which has led to the rescue of American International Group, the collapse of Lehman Brothers and the effective end to the investment banking industry...

Global electronic banking payments specialist SWIFT is to provide an electronic platform for electronic data transmission to a group of major reinsurance players.

Reinsurance broker US Re Corp has appointed former Generali executive Riccardo Nicolini as senior vice president.

Aon's energy team is set to receive a boost with the appointments of two energy brokers from Jardine Lloyd Thompson.

The global (re)insurance industry has been counting the cost and revealing its total exposure to failed US investment bank Lehman Brothers, which filed for bankruptcy protection on 15 September.

The collapse of Lehman Brothers made its impact felt in the reinsurance convergence markets last week as ratings agency Standard & Poor's (S&P) put tranches of four cat bonds guaranteed by the failed investment bank on negative watch.

After a week of unparalleled upheaval in the financial world, the US Federal Reserve last night effectively signalled the end of the investment bank model as it agreed to convert Morgan Stanley and Goldman Sachs Group...