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Aon has appointed Michael Wolf as vice president and chief counsel – corporate. He will provide legal counsel on corporate and transactional matters. He will also be responsible for the management of all corporate transactions on a global basis. He will report to Peter Lieb, executive vice president and General Counsel of Aon. 21 January 2014
News
The majority of reinsurance buyers demanded bespoke contracts in the recent renewals as, leveraging the fierce competition in the market, many drove a hard bargain with reinsurers negotiating better terms and conditions in contracts 10 January 2014
Alternative Risk Transfer
QBE Insurance Group has completed a $250 million cat bond which is the first such deal to cover Australian perils for a primary insurance company on an indemnity basis. 8 January 2014
News
CATCo Reinsurance Opportunities Fund, a fund operated by reinsurance and retrocessional reinsurance-linked asset manager CATCo Investment Management, is to return some $74 million to shareholders following low insurance losses resulting in high returns in 2013. 8 January 2014
News
Troubled Tower Group International, which was downgraded last year following the revelation of a substantial shortfall in its reserves, has agreed to merge with ACP Re, a privately-owned Bermuda reinsurer. 7 January 2014
News
JLT Specialty Limited (JLTSL), part of Jardine Lloyd Thompson (JLT), has been fined £1.88 million by the UK Financial Conduct Authority (FCA) for failing to have appropriate checks and controls in place to counter the risk of bribery and corruption. 3 January 2014
News
Aon Benfield has appointed Joe Smith as chief executive officer of its Chile team. 20 December 2013
Insurance
In what could represent a significant fillip for the already fast growing insurance-linked securities market, China’s government has said it plans to explore the use of such tools as part of its first nation-wide blueprint for adapting to climate change. 11 December 2013
Insurance
Advantage Insurance Holdings, a provider of insurance solutions for businesses and individuals, has completed a recapitalisation transaction and recruited Tom Hutton, Bruce Shewmaker and Gary Witherspoon to its board of directors. 9 December 2013
News
Melvin Schwarz will retire as general counsel of Guy Carpenter at the end of this year. He will be succeeded by Katherine Brennan, who become a member of Guy Carpenter’s board of managers and global operating committee, effective January 1, 2014. 6 December 2013
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