A round-up of the latest reinsurance stories online
Judging by this month’s top five, readers of Global Reinsurance’s website can’t get enough of people stories. Three of the top five news items relate to changes in senior positions at big-name firms.
Aon chief operating officer Andrew Appel’s plans to leave the broking behemoth at the end of the year grabbed readers’ attention. While Appel spent most of his five-year tenure at the firm on the consulting side of Aon’s business, he is best known to the reinsurance world as the man who presided over Aon Re Global’s merger with Benfield. The question on many readers’ lips must be what he’ll do next.
One man whose future has been decided is former PartnerRe chief financial officer Albert Benchimol. He has resurfaced at rival Bermudian (re)insurer Axis after announcing his planned departure from his old firm in July. Benchimol was a core part of outgoing PartnerRe chief Patrick Thiele’s entourage: as well as keeping the firm’s finances in check, he also ran the asset management division – and so could be considered a catch for Axis.
The other big people move story was Guy Carpenter’s poaching of Cooper Gay UK chief Jim Summers to run its global marine and energy practice, which some saw as a career u-turn for the executive.
News about strategic changes also got readers clicking this month. The top story was Bermudian catastrophe reinsurer RenaissanceRe’s decision to sell most of its US primary business to QBE.
Interest was also piqued by Amlin’s decision to start writing casualty business from its Bermuda operation.
1. QBE buys RenRe's US insurance portfolio
Bermudian firm’s insurance division under microscope
2. Former reinsurance chief quits Aon
COO Andrew Appel to step down at year-end
3. Amlin enters casualty reinsurance in Bermuda
Managing director says the move is a 'natural progression'
4. PartnerRe CFO jumps ship to Axis
Albert Benchimol joins Axis as CFO in January 2011
5. Cooper Gay chief resigns
Toby Esser steps in to lead Lloyd's broker as Summers exits