A round-up of the latest insurance stories online
Traffic to the Global Reinsurance website hit new peaks as breaking news came thick and fast. Online readers piled in to the site on the back of the Monte Carlo Rendez-Vous in September, and they continued to visit frequently to pick up the news as it happened over the past month.
The most popular story on the site over the last few weeks gave details of Aon’s plans to cut global jobs as it integrates recently acquired consultancy Hewitt Associates. Up to 1,800 jobs are in the firing line, according to an 8-K regulatory filing at the US Securities and Exchange Commission.
The company estimates that the restructuring, between now and 2013, will cost $325m. This figure includes $180m for workforce reduction and property rationalisation. Global Reinsurance’s online readers will no doubt be eagerly anticipating updates as this develops.
Also in the top five of most-read stories is the news that Allied World Assurance Company Holdings (AWAC) plans to redomicile from Bermuda to Switzerland. The company is awaiting a shareholder vote on the decision at a special meeting later this year, but it expects the move to be complete before 2011.
Further stories from Switzerland caught readers’ attention. These included Swiss Re buying a stake in UBF Seguros, a Brazilian surety and agriculture insurer, and Lloyd’s insurer Amlin completing the redomestication of its Bermuda reinsurance subsidiary to the place that is famous for, among other things, chocolate and cheese.
Online top 5
Mainly non-client-facing roles to go in restructure
(Re)insurer plans to shift domicile by end of this year
Reinsurer will take a stake in UBF Seguros
Life reinsurer creates three global businesses
Lloyd’s insurer ‘remains committed to Bermuda’