What are the stories hitting the headlines this week?
Shake-up
QBE will split its UK and Ireland operations into five regions in a big shake-up following its acquisition of Brit’s renewal rights in April. Ray Cox has been appointed chairman and Elliot Miller general manager of QBE UK and Ireland.
Buy-out
Omega shareholders have approved the company’s acquisition by Canopius. More than two-thirds voted in favour of the deal, and just 7.43% against. Omega shareholders hope the deal will draw a line in the sand under a difficult couple of years of boardroom battles and underwriting losses.
Chartis
AIG chief Robert Benmosche has given further indication that the AIG brand will replace the Chartis name. AIG rebranded its GI businesses as Chartis in 2009 following the group’s near-collapse and rescue by the US government in the wake of 2008’s financial crisis.
Sale
Marsh has finalised the sale of four firms in its Gibbs Hartley Cooper (GHC) division to Lloyd’s broker RK Harrison for an undisclosed sum. The sale comprises GHC’s specie and cargo practices and most of its North America property/casualty and accident, health and contingency practices.
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