September 2009/3

Lord Peter Levene, chairman of Lloyd's, has lambasted those who question whether the competitiveness of the City should take precedence in the UK, insisting it is "an absolute priority".

Bermuda is set to lose another major broker, with the news that the Willis board has decided to change the domicile of its group holding company from Bermuda to Ireland.

Liberty Syndicates is one of the insurers exposed to the Willis errors and omissions (E&O) insurance relating to multi-million dollar settlements for the infamous London PA reinsurance spiral of the mid-to-late 1990s, The Insurance Insider has learned.

Scottish judge Lord Glennie's comments on the fundamental issue of fairness effectively halted the Scottish Lion solvent scheme of arrangement and could block progress on schemes currently in the pipeline.

As US regulatory authorities confirm discussions to "level the playing field" over contingent commissions, it has been estimated that MMC could earn more than $250mn a year if the controversial arrangements are allowed to return.

The industry is effectively two-thirds of the way though the worst of the North Atlantic hurricane season, provoking a leading (re)insurance analyst to suggest the prospect of better-than-expected earnings this year.

The Hartford Financial Services Group has hired former American International Group (AIG) senior executive Stephen Whelan to replenish its recently raided financial products division, along with 18 other new appointments, The Insurance Insider has learned

The $130mn settlement that Willis Group made with CNA on the 11 September effectively ends another chapter in the internecine conflict...

Marsh has acquired International Advisory Services (IAS) - Bermuda's largest independent manager of captive and third party insurance companies - adding over 150 captives to its portfolio.

Shipley to head Equitas; Torus builds out construction team; Housley leaves Axis; WR Berkley establishes oil and gas specialty unit; Marsh extends Duperreault contract

Markel announces $350mn debt offering; QBE acquires Cigna portfolio; JLT partners with Beazley on E&O programme...

Nick Jones, the former head of Heritage’s worldwide property division and lead underwriter of the (re)insurer's Lloyd's Syndicate 1200, is to rejoin the Lloyd's market as the active underwriter of a new Syndicate 1969, The Insurance Insider has learned