Ben Norris (mailto:bnorris@bieurope.com)
LONDON?The airline insurance market looks increasingly likely to have made a loss in 2007 and as a result participants are likely to use the first quarter of 2008 to reassess their positions, according to London-based Aon Ltd. The amount of losses, which includes attritional losses, is now...
LONDON?The London-based Financial Services Authority has announced the appointment of Sally Dewar as its new managing director of wholesale. Ms. Dewar succeeds Hector Sants, who became chief executive of the U.K. financial services regulator in July last year. She is currently the director of...
LONDON?London-based Liberty International Underwriters, a division of Boston-based Liberty Mutual Group Inc., has acquired Vision Underwriting, a Cheltenham, England-based specialist in professional indemnity, employers, legal expenses, public and products liability and directors and officers...
Economic losses from natural catastrophes were up 50% on the previous year and insured losses totalled just under $30 billion according to figures by Germany?based Munich Reinsurance Co. Despite the absence of extreme events overall economic losses had reached $75 billion by the end of December,...
PARIS?Societe Generale Insurance has signed a memorandum of understanding with Indiabulls Financial Services Ltd. to create a life insurance joint venture in India. Paris-based Societe Generale, through its French life insurance company, Sogecap, will own 26% of the future joint venture....
LONDON? London-based Jardine Lloyd Thompson Group P.L.C and ICAP P.L.C., the London-based interdealer broker, have announced that their joint venture, ICAP-JLT, has brokered its first catastrophe swap transaction. The transaction was a North American windstorm catastrophe swap. The joint...
LONDON? London-based Benfield Group Ltd. has announced the launch of a share buyback and a new debt facility designed to enhance its capital structure. The company proposes to apply up to £150 million ($306 million) to fund the share buyback program over the next two years, subject to market...
LONDON? A multiline Lloyd?s of London syndicate, Barbican 1955, was launched Thursday. The syndicate will have stamp capacity of £75 million ($154.6 million) and has obtained in-principle approval from the Lloyd?s Franchise Board to begin underwriting for the 2008 year of account. The...
LONDON? Marsh Inc. has appointed Artur Niemczewski as chief executive of multinational business, within London-based Marsh U.K. Mr. Niemczewski joins from London-based Willis Group Holdings Ltd., where he held a number of senior positions, which included chief operating officer of the...
MADRID, Spain? The Chairmen of Madrid, Spain-based MAPFRE S.A., Jose Manuel Martinez, and Verona, Italy-based Societa Cattolica di Assicurazioni, Paolo Bedoni, have confirmed their willingness to maintain and develop their collaborative relationship. They stated their intentions in a meeting...
