Corporate round-up

Aon acquires claims experts Dempsey Partners Aon Global Risk Consulting, the risk consulting business of broker Aon, has acquired the assets of Dempsey Partners, a provider of claims preparation, business interruption valuations and related forensic accounting services to the risk management sector. Financial terms of the acquisition were not disclosed. Dempsey Partners' professionals will join with Aon's claims preparation, claims advocacy, business interruption valuations and asset valuations team members to help deliver an improved offering to clients. The group will also provide clients with access to forensic accounting expertise to support financial services lines, fraud and cyber risk.hide"Major loss events of the past years have consistently demonstrated the need for high quality claims services, specifically in the property, business interruption and contingent business interruption arenas," said Neil Harrison, Group Managing Director, Risk Control, Claims and Engineering at Aon Global Risk Consulting. "By bringing Dempsey Partners to Aon, we can successfully supplement our existing claims expertise as well as provide critical support to clients seeking to ensure the adequacy of their business interruption coverage in advance of any loss." John Dempsey, Managing Partner at Dempsey Partners, added: "My colleagues and I are delighted at the opportunity to join Aon, an organisation that we have long respected and with which our values and risk consulting strengths greatly align. I am excited at the potential to bring new services to clients, along with an even greater level of quality and innovation." Mr Dempsey has been appointed managing director and practice leader of the consolidated claims preparation, advocacy and valuations team. ACE creates Turkish financial lines team and appoints manager ACE has announced the launch of a new, dedicated financial lines team in Turkey and the appointment of Sare Bayat as Financial Lines Manager. The move is part of ACE's plans to build its liability insurance capabilities in the country. In her role, Ms Bayat will be responsible for the continued growth and development of ACE's financial lines portfolio in Turkey and the expansion of its customer base, with a focus on directors and officers liability. She will report to Ebru Gurtan, ACE's Country President for Turkey and to Nadia Cote, Financial Lines Manager for ACE in Continental Europe. Ms Bayat started her career at Oyak Securities as a financial analyst where she worked for two years before joining insurer AIG as Financial Lines Profit Manager in 2005. During her time at AIG, she was responsible for the strategic development of financial lines in Turkey, including forecasting, budgeting, talent management, marketing and growth strategy. Ebru Gürtan, Country President for ACE in Turkey, said: "At ACE, we have steadily been building our financial lines capabilities in Turkey in recent years. In Sare we have recruited one of the best in the business to lead a new, dedicated team that will now allow us to further build our proposition for customers as they navigate the increasingly complex operating environment. This announcement underlines our position as a pioneer of innovative liability products in Turkey as company directors and CEOs face increasing legal and financial responsibilities to shareholders in terms of transparency and corporate structure." Tim O'Donnell, Executive Vice President, Financial Lines, for ACE's overseas operations, added: "We see Turkey as one of the world's key emerging insurance markets and extending our successful global financial lines franchise is a reflection of our commitment to the country. I am confident that our extensive global expertise, combined with our clear focus on hiring strong local underwriting talent such as Sare, will greatly benefit our customers in Turkey." JLT Re appoints Charles Withers-Clarke to head Bermudian operation JLT Re has appointed Charles Withers-Clarke as Head of its Bermudian operation. He joins from Willis Re. Having started his career with Willis Faber & Dumas in 1990, Mr Withers-Clarke spent the last 10 years with Willis Re Bermuda. He will join JLT Re as soon as he has completed his contractual obligations with Willis Re. Bradley Maltese, Board Director at JLT Re, commented: "As JLT Re expands its global footprint, including the expansion of our US and London operations, Bermuda is a key marketplace for us and Charles brings additional senior presence locally which will help us develop key relationships with Bermudian carriers and provide further impetus to our growth aspirations in a number of classes of business." JLT and AmTust extend solicitors PI offering JLT Specialty Ltd and AmTrust Europe Ltd (AmTrust) have renewed and extended their Professional Indemnity insurance (PI) relationship to offer both sole traders and two to three partner solicitor firms cover for 2013 renewals. Mike Perry, Partner, JLT Specialty, said: "After an excellent first year in 2012 we are delighted to be building on our relationship with AmTrust. We are focused on a real assessment of each individual risk profile rather than a rigid rating engine that lacks flexibility. This allows us to offer personalised price options." JLT Specialty expects 2013 to be an interesting year for PI renewals as it is the first year without the Assigned Risk Pool and for the first time solicitors can change their renewal date for 2014 and beyond. Mike Perry continued: "We remain concerned that unrated markets are still winning business, particularly in the light of what has happened with Balva...it seems solicitors have not clearly understood the potential downsides to unrated insurers and what they would really get from the Financial Services Compensation Scheme if things go wrong." "Quality insurers do not always mean higher prices. We will offer quick turnaround on quotes and communication throughout the process and believe that commercially realistic and viable rates are available for almost all firms," he added. AIR's latest US Hurricane Model receives green light from Florida AIR has announced the certification of its latest US Hurricane Model by the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM). The Commission certifies models for use by insurers developing Florida residential and commercial residential property rate filings. "We're pleased that the AIR model met all the standards set forth by the Florida Commission," said Brandie Andrews, Senior Manager, Consulting and Client Services at AIR Worldwide. "Certification by the Commission gives AIR model users increased confidence in employing our models for all of their catastrophe risk management activities." The latest release of the AIR Hurricane Model for the US incorporates the 2011 update of NOAA's Atlantic basin hurricane database. This includes storms through to 2010 and re-analysis of data since 1930.

Corporate round-up

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