United States of America (USA)
Plumeri eager for smooth handover
Outgoing Willis chief executive Joe Plumeri has vowed to do all he can to ensure continuity as the firm shifts to new leadership under Dominic Casserley.
Marsh's Moylan to head global surety practice
Marsh has appointed David Moylan as head of its newly created global surety practice.
Long-serving Marsh chair Moyan to lead global surety practice
The surety practice chairman of Marsh's international division has been selected to lead the firm's newly-created global surety practice.
Ex-Brit underwriter takes on property role at Argo International
Argo International has appointed former Brit Insurance underwriter Neil Russell as class underwriter for property.
Former Axis chairman could start Asian insurer
Axis Capital founder John Charman is planning to return to the insurance industry, possible through the creation of an Asian insurance company.
US firm invests in Health Claims Bureau
Healthcare and risk management specialist Health Claims Bureau has signed an investment deal with US specialist Professional Disability Associates.
Direct Group eyes US expansion following sale to Ryan Specialty Group
Direct Group chief executive Derek Coles intends to take advantage of new opportunities to enter international territories following the completion of the firm's sale to Ryan Specialty Group.
Increasing threat posed by solar flares
Power and utility underwriters may be unaware of the extent of the threat of major solar flares to the world's electrical generation infrastructure, space weather specialists told the London Power Forum last week.
Chaucer launches political risk initiative in New York
Lloyd's insurer Chaucer has developed a new political risk and trade credit initiative in New York.
QBE scales back profit margin estimates as Sandy losses swell
Global insurer QBE has estimated its insured losses from super storm Sandy will be between £220.4m ($350m) and £283m ($450m).
AIG brand is back, declares Benmosche
American International Group, has declared that AIG is once again the “go-to-market brand” of its global property casualty business, which had been rebranded as Chartis in the wake of its near-collapse in 2008.
Catlin GWP grows 11% as Sandy-hit New York office remains closed
Catlin reported an 11% increase in gross written premium to $4.08bn in the nine months to 30 September 2012 compared with the same period in 2011 (9m 2011: $3.68bn).
LMA launches new wording for power and utility property risks
A new standard wording for power and utility property risks placed in the Lloyd's market has been unveiled.
First Central unveils motor breakdown product
First Central has launched a new breakdown cover product to help motorists with day-to-day problems.
New Yorkers to fall victim to second storm in less than two weeks
New York residents could be told to evacuate the city for a second time this month as winter storm Athena makes its way to the same areas battered by Sandy last week.
Munich Re expects "mid three-digit million euro" Sandy hit
Munich Re expects its share of the losses from superstorm Sandy to be in the "mid three-digit million" euro range, based on primary estimates, but remains optimistic of achieving a €3bn profit for the 2012 financial year.
Munich Re: Sandy to drive up property insurance prices
Munich Re's reinsurance operation produced a Q3 operating result of €1.2bn (Q3 2011: €665m) and premium income of €7.5bn (Q3 2011: €6.5bn).
China-based intermediary starts repurchase programme
CN Insure is to repurchase up to $30m of its American depositary shares by 6 May 2012 after its board of directors approved a repurchase programme.
UIB hires new staff ahead of special risks unit launch
Independent international reinsurance broker UIB has launched a special risks division in response to customer demand.
US firms hit by Sandy could face claims battle
Business losses triggered by superstorm Sandy are expected to be exacerbated by the fact that few firms have policies to cover loss of income when their operations are disrupted by a supplier’s poor fortune.
Firms unprepared for Sandy BI losses, Willis' Texeira warns
Hurricane Sandy could cost insurers between $5bn and $10bn, according to a report in The Wall Street Journal, while Bloomberg reports that the hurricane's toll is poised to cause $20bn worth of "economic damage".
Caribbean cat risk report issued on Sandy
The Caribbean Catastrophe Risk Insurance Facility has issued a risk report after two of its members, Jamaica and the Bahamas, were hit by tropical cyclone Sandy.
Sandy could cost insurers $15bn
Insured losses from storm Sandy to properties in the US are expected to be between $7bn and $15bn, according to catastrophe modeling firm AIR Worldwide.
Xuber targets bigger US market share following latest appointment
Xchanging's re-launched insurance software business Xuber has appointed Michael Kulp as vice president of sales, where he will join the recently expanded US sales team amid plans to increase the firm's share of the American market.