United States of America (USA)
MGAA launch: Changing perceptions
Delayed since 2010, the Managing General Agents Association launched this month, with a brief to ensure the insurance industry and regulators understand exactly what role MGAs perform.
Tiger Risks becomes first US broker since 2003 to open in London
Tiger Risk Partners has announced the opening of a UK subsidiary headquartered in London.
Hurricane Katia could threaten US
It is too early to tell whether Hurricane Katia, which was today given ‘hurricane status’, will threaten communities in the Caribbean, Bermuda or in the US, according to early reports from Risk Management Solutions.
Admiral unveils plans to expand US business
Admiral has defended its £90.7m net ancillary income claiming referral fees played a minor part in profit and have branded personal injury lawyers’ as the “root cause” of the problem.
Chesterfield appoints producer broker for North America division
Independent Lloyd’s broker Chesterfield has appointed James Sergeant as a producer broker for its North America division.
Zurich Global Corporate appoints COO for North America
Zurich Global Corporate has named Sabrina Hart chief operating officer for Global Corporate in North America (GCiNA).
Solvency II action remains vital despite delay proposal
Firms have been urged to continue working towards the 1 January 2013 implementation deadline for Solvency II, despite the European Parliament announcement that the regime should be delayed until 2014.
Editor's comment: The wheels of industry
The schools may be out for summer and European business fast grinding to a halt as workers decamp to the coast but it's good to see the wheels of British commerce continue to turn, albeit at a rather less than frenetic pace.
Lloyd’s receives reduced collateral approval in NY
Lloyd’s has received approval from the New York Insurance Department to post reduced collateral on reinsurance contracts.
Prominent insurance leaders to join IIS board of directors
Eight insurance leaders will join the board of directors at the International Insurance Society, effective 1 August.
Danish government asks TRIA broker to review local terrorism capacity
US RE, the international reinsurance broker, has been selected by Finanstilsynet, the Danish Insurance Supervisory Authority, to conduct a study of terrorism risk reinsurance capacity in the Danish market.
US legislative changes offer opportunities for London Market
Legislative changes in the US could present “significant” business opportunities for London market companies, according to the International Underwriting Association.
Scheffel replaces Berger as Allianz corporate boss in London
Allianz Global Corporate & Specialty has confirmed new CEOs from within its existing management team for two of its most important regions with effect from October.
Brit appoints property treaty head
Brit Insurance has appointed Jon Sullivan head of property treaty reinsurance. He is expected to take up the role in the autumn.
Amlin sees international cat renewal rates rise by 50%
Lloyd's insurer Amlin estimates net claims from the two major US tornadoes during April and May 2011 of approximately $50m.
Interview - Rob Brown: The best job in the market
Despite being one to shun the limelight, Rob Brown, chief executive of Aon UK, has no qualms about answering his critics over the firm's carrier charge and contingent commissions, admitting he is pleased with progress to date. Daniel Dunkley reports.
Property cat rates rise after global losses
US property catastrophe rates have increased due to global losses and new versions of catastrophe models. However, the reinsurance sector's capital position remains dependent on the hurricane season.
Chaucer takeover completed
Chaucer has confirmed its takeover by US-based The Hanover Insurance Group has been completed.
Flagstone: US reinsurance rates rise 10%
North American reinsurance renewals have increased by an average of 10%, according to Flagstone Re.
US tornadoes cost Hiscox £35m
Hiscox has estimated net claims arising from the April and May tornadoes in the US to be approximately £35m based on insured market losses of $15bn-$25bn.
Lockton announces Memphis expansion
Bosses at Lockton are planning a recruitment drive after deciding to open a Memphis-based risk management and employee benefits operation.
Severe weather costs Zurich $295m
Zurich has estimated claims caused by the severe weather-related events that hit the US in April and May to be approximately $295m for both Zurich North America and Farmers Re.
Bloodstock - Market Update: Dark horse
With race lovers flocking to Royal Ascot this week, Jane Bernstein reports on a bloodstock insurance market still hampered by soft rates and self-insurance.
Ex-Guy Carp MD joins BMS board
Former Guy Carpenter managing director Philip Campbell has joined BMS as executive vice president of its US-based operations and a member of its US strategy board.