Swiss Re leavers
Swiss Re's Lloyd's client team manager Pat Murphy O'Connor is set to leave the company. Meanwhile, it is understood that the reinsurer's UK & Ireland client team manage …
Swiss Re leaversSwiss Re's Lloyd's client team manager Pat Murphy O'Connor is set to leave the company. Meanwhile, it is understood that the reinsurer's UK & Ireland client team manager Roger Halms will also be leaving.Swiss Re was unable to comment on the departures, but sources close to the reinsurer confirmed that O'Connor and Halms would be moving on.
CBS delayAn announcement concerning the future of Community Broking Services (CBS), the small broker proposition from Total Broker Solutions, has been delayed. Chief executive Mike Williams said the network had intended to make an announcement prior to the Biba conference but was waiting to finalise a deal with an insurance carrier.
Chafford doubtsThe future of Essex-based broker Chafford Insurance Consultants is "in limbo", according to a spokesman for insolvency practitioner Vernon Wright & Co. The spokesman said Vernon Wright & Co would hold a creditors' meeting on 25 May, but the broker was "not in liquidation yet."
Warranty dealWarranty Holdings administrator Grant Thornton is close to finalising a deal for the sale of the collapsed business. The administrator confirmed it was in advanced contract negotiations with a well-known company.
Scor income downFrench reinsurer Scor's operating income and pre-tax profit dropped for the first quarter of 2004. Its operating income amounted to ¤29.4m, while in the first quarter of 2003 it achieved ¤60.9m. Income before tax and goodwill amortisation fell 44% from ¤67.7m in 2003 to ¤46.7m in 2004.
Chubb subpoenaedNew York Attorney General Eliot Spitzer has subpoenaed the Chubb Corporation to provide information on certain compensation agreements between insurance brokers and Chubb's insurance companies.