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Insurance
A strong set of results announced by the private equity backed Nexus Group could set it on course to become the largest independent managing general agency (MGA) in the London Market. The group has expanded quickly since its formation in March 2010 through a series of mergers and acquisitions. 13 March 2013
Insurance
Bermuda-based MS Frontier Re has appointed a new president and CEO. Starting on April 1, Toshiya Naito will take over the role from Keiichi Nakajima who will return to Japan to take on new responsibilities within MS Frontier Re’s parent company. Naito is a 25-year veteran with Mitsui Sumitomo Insurance Company, the parent company and sole shareholder of MS Frontier Re. MS Frontier Group recently completed a reorganisation on January 1 which saw the closure of MS Frontier Re’s sister office in Dublin. 13 March 2013
Insurance
Canopius Group has posted strong full-year 2012 results achieving solid growth in both gross written premiums and its underwriting performance. 13 March 2013
Insurance
Risk Management Solutions (RMS) has made Paul Dali chairman of its board of directors. Dali, a venture capitalist who has previously backed a number of highly successful technology companies, had already served as an advisor to the board for the past year. In addition to Dali, Dr Gerald Held, a corporate director on numerous technology company boards and a former Silicon Valley software executive, joins the RMS board as an independent director. And Dominique Trempont, an executive and board member with a focus on cloud and new media, also joins the board. 6 March 2013
News
Bermuda-based Endurance Specialty Holdings has announced that Jerome Faure will join the company on March 11 as CEO of global reinsurance. He will be responsible for Endurance’s North America, Bermuda and international reinsurance operations. Most recently, Faure was a partner in ILS Capital Management in Bermuda focused on insurance linked securities, industry loss warranties and collateralized reinsurance. Prior to that, he served as director and chief underwriting officer for Tokio Millennium Re. He started his career at Scor. 27 February 2013
News
Martin Sullivan, the deputy chairman of Willis Group Holdings and chairman and CEO of the Willis Global Solutions unit, will leave the firm in May 2013, after a transition, to pursue other interests. 20 February 2013
Insurance
Insurers and reinsurers in Europe will feel vindicated by a recent report published by the EC and conducted by Ernst & Young that concludes that the practice of co-re/insurance agreements in the subscription market does not break competition rules. 15 February 2013
Insurance
Singapore’s growth as a speciality lines reinsurance hub over the last five years means it could soon be comparable with other reinsurance hubs such as London, Bermuda and Zurich. 13 February 2013
Alternative Risk Transfer
For Lloyd’s to accept a new syndicate, the business must bring something new to the table. That is the view of Stephen Cane, chief executive of third party syndicate manager, Asta, which has recently launched a new syndicate at Lloyds. He says the business had to demonstrate innovation and a unique offering to gain approval. 8 February 2013
Insurance
Some Lloyd’s underwriters do not use catastrophe models to their full potential. As a result, syndicates must invest in ensuring staff have a better understanding of models and their inherent strengths and weaknesses. 6 February 2013
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