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Aon unit sues Marsh in New York: report 16 March 2010

A unit of brokerage firm Aon Corporation is suing rival Marsh & McLennan Companies for stealing trade secrets, clients and employees, reports Bloomberg.
Marsh & McLennan Agency buys Rutherfoord 16 March 2010

Marsh & McLennan Agency (MMA), a subsidiary of insurance broker Marsh, today announced it has acquired Thomas Rutherfoord, the US’s 32nd largest brokerage firm and 14th largest independently owned firm.
Editor’s remarks: Contingent commissions - A level playing field but an ugly game 09 March 2010

Marsh and Aon should be more vocal about whether they will accept contingent commissions now that their ban has been lifted.
Economic uncertainty strengthens fac offering 08 March 2010

Fac players are bullish about their business offering in the uncertain economic climate. But with fierce competition among brokers and softening rates there the picture is not as rosy as it may seem.

Allied World revamps senior management 17 March 2010

Allied World Assurance has re-shuffled its senior level management in Bermuda, Europe and the US.
Brit Insurance names UK distribution head 17 March 2010

Brit Insurance has appointed Vivek Banga as head of UK distribution. In the new role, Banga will focus on further development of the insurer’s distribution strategy, working alongside its broker partners.
Chaucer appoints production head 17 March 2010

Chaucer Holdings has appointed Andrew Voke to the newly created role of head of production for Syndicate 1084 with immediate effect.
CNA hires ocean marine veteran 17 March 2010

CNA has appointed Stephen Clark as vice-president of ocean marine. He will oversee the global insurer’s complete ocean marine line of business including hull, marine liabilities, protection & indemnity and cargo.

9/11 captive makes $657m settlement 12 March 2010

The WTC Captive Insurance Company has announced a settlement with attorneys for more than 10,000 plaintiffs claiming injuries related to the rescue, recovery and debris removal operations following the September 11 2001 terrorist attacks.
Insurance buyers worried about Solvency II 12 March 2010

The Federation of European Risk Management Associations (Ferma) has voiced concerns about the effect Solvency II and capital requirements put forward by the Committee of European Insurance and Occupational Pensions Supervisors will have.
Editor’s remarks: Contingent commissions - A level playing field but an ugly game 09 March 2010

Marsh and Aon should be more vocal about whether they will accept contingent commissions now that their ban has been lifted.
INTERVIEW: Pat Gallagher on contingents 03 March 2010

After the ban on contingent commissions was lifted for the world’s three biggest three brokers, Reactions spoke to Pat Gallagher, chairman, president and CEO of the fourth-largest US broker Arthur J Gallagher & Co to see what his opinion is on the controversial payments.

Swiss Re to issue first Perils-based cat bond 09 March 2010

Swiss Re is preparing a new catastrophe bond, which will be the first cat bond to use Perils AG as a benchmark for losses.
Convergence Quarterly: ILS outlook for 2010 12 February 2010

Fresh off the back of the busiest ever fourth quarter for cat bonds, insurance-linked securities activity is predicted to be high in 2010. Reactions' Convergence Quarterly section includes all the cat bond data from 2009.
Hartford’s Foundation III cat bond completed 29 January 2010

A catastrophe bond to provide The Hartford with protection against east and Gulf Coast US hurricanes has been completed.
Hannover Re increases K6 deal by $152m 27 January 2010

German reinsurer Hannover Re has securitised more natural catastrophe risk through its K6 transaction.

Bermuda reinsurers' wrote $61bn in 2009 17 March 2010

Global gross premiums written by Bermudian reinsurers remained flat in 2009, according to data released today by the Association of Bermuda Insurers and Reinsurers (ABIR).
Ceiops expected to ease Solvency II requirements 17 March 2010

The result of stress tests by the Committee of European Insurance and Occupational Pensions Supervisors’ (Ceiops) hints that the Solvency II framework could prove much more balanced than initially feared, analysts have said.
Catastrophes cost insurers $26bn in 2009 16 March 2010

Natural catastrophes and man-made disasters cost insurers $26bn in 2009, according to Swiss Re’s latest sigma study. The overall cost to society was $62bn.
Chile loss over $7bn would push up prices: Lippe 16 March 2010

Industry losses of more than $7bn from last month’s earthquake in Chile would increase reinsurance pricing, believes Stefan Lippe, CEO of reinsurance firm Swiss Re.