European Union Fails to Reach Accord on Financial Supervision
Efforts to clinch a deal on the way banks, insurers and markets in the European Union are supervised failed on Wednesday and talks will resume in late August or early September. The talks on creating pan-European authorities to prevent any …
BP Test of New Cap on Gulf Oil Well Could Be Turning Point
BP Plc prepared on Tuesday to test a new cap on its runaway well, arresting the flow of oil which has been gushing into the Gulf of Mexico for the last 12 weeks. [According to Reuters BP Plc will launch …
With Hewitt, Aon Will Jump Over Marsh to Be Largest HR Consultant
Aon Corp. will spend $4.9 billion to buy Hewitt Associates Inc., in an aggressive bid to leapfrog archrival Marsh and McLennan and create the world’s largest human resource services company. Aon, in its largest-ever deal, would issue 64 million shares …
Cooper Gay, Swett & Crawford Complete $3.5 Billion Deal
In a joint announcement from London and Atlanta, Swett & Crawford and Cooper Gay, the London-based independent wholesale, reinsurance and specialist retail insurance broker, announced that they have completed the combination of the two firms [See IJ web site – …
Worldwide Facilities Names Clayton VP
Los Angeles-based Worldwide Facilities Inc. has added Ted Clayton as a vice president and property broker in its Irvine, Calif., office. Clayton began his insurance career in 1985 with Chubb & Son and has held various underwriting and management positions, …
AXIS Expands Global Accident & Health Coverage
AXIS Global Accident & Health (AGAH), a division of AXIS Capital Holdings Limited, announced that it is now actively marketing its capability to write accident and specialty health reinsurance cover from Ireland and the UK. The expansion complements AXIS’ existing …
Lloyd’s Won’t Insure or Reinsure Petroleum Shipments for Iran
Lloyd’s of London will not insure or reinsure petroleum shipments going into Iran, the insurance market said on Friday. U.S. President Barack Obama signed into law last week far-reaching new sanctions that aim to squeeze the Islamic Republic’s fuel imports …
Brokers in London Market Survey ‘More Positive’ about Lloyd’s
“Brokers are now significantly more positive about conducting business at Lloyd’s than two years ago,” according to a survey of the Lloyd’s market from part of the Gracechurch London Market Study 2010, an independent annual study by an insurance consultancy. …
ACE Group Appoints Six New Global Client Executives
The ACE Group of insurance and reinsurance companies has announced the appointment of six additional global client executives in four countries: Jeff Carr and Shaun Edwards in London, Olivier Roussel in Paris, Wolfgang Ruffert in Frankfurt, Andrea Pearson in Los …
