Martin J. Sullivan has been appointed deputy chairman of Willis Group Holdings plc and chairman and CEO of a new business unit, Willis Global Solutions.

Willis Group Holdings Names Former AIG CEO Sullivan as Deputy Chairman Former American International Group Inc. Chief Executive Officer Martin J. Sullivan has joined Willis Group Holdings plc as deputy chairman and will lead a new business unit designed to attract more global clients. 9/8/2010 3:57:02 PM » Full Story

International Cooperative and Mutual Insurance Federation Chief Executive Shaun Tarbuck.

Mutuals Keep Pushing to Grow Market Share Mutual insurance companies are on track to record another strong year for premium growth in 2009 once numbers are finalized, according to a global trade group for the sector. 9/8/2010 12:53:40 PM » Full Story

Dirk A. Kempthorne has been named next president and CEO of The American Council of Life Insurers.

ACLI Names Former Interior Secretary, Idaho Governor as CEO The American Council of Life Insurers named former U.S. Secretary of the Interior and Idaho Gov. Dirk A. Kempthorne as its next president and CEO, effective Nov. 3. He will replace Frank Keating, a former Oklahoma governor who has led ACLI since January 2003. 9/8/2010 3:23:40 PM » Full Story

Asia/Pacific

• AIG Has No New Move on Nan Shan Sale While China Strategy Says the Deal Is Terminated: American International Group Inc. said it has not changed its position on the divestment of its Taiwanese life subsidiary Nan Shan Life Insurance Co. Ltd., following the rejection of Taiwan's regulator on the sale to a Hong Kong-based consortium. » Full Story

• China's Sunshine P&C Clears to Establish New Branch in Ningxia Autonomous Region: Sunshine Property and Casualty has been approved to set up a new branch in northwest China's Ningxia autonomous region, said the China Insurance Regulatory Commission in a statement. » Full Story

• Chinese Regulator Grants Insurance Agency Services Among Three Insurers: Anbang Life, Anbang Insurance and Hexie Health Insurance have won the regulatory approval to operate mutual insurance agency businesses in China following a series of business restructurings among them. » Full Story

• India's Regulator Refuses Renewal of Broker License to Willis's Joint Venture: India's Insurance Regulatory and Development Authority said it has declined to renew the composite broker license of Willis India Insurance Brokers Pvt. Ltd., an Indian joint venture of international intermediary Willis. » Full Story

• New Zealand Enacts Insurance Bill to Start Up Prudential Regulatory Regime: New Zealand has enacted a new insurance bill to regulate the insurance industry to bring the country into line with trends in overseas insurance regulation. » Full Story

• Two Chinese Life Insurers Clear For Capital Raising Through Subordinated Debts: Taikang Life and Taiping Life have been permitted to raise no more than 4 billion yuan (US$589 million) capital, respectively, through a 10-year term subordinated debt arrangement within six months, said the China Insurance Regulatory Commission in a statement. » Full Story

People in Insurance

• XL Re Names New President and Chief Operating Office for Latin America: XL Re, the global reinsurance operations of XL Group plc, appointed 20-year industry veteran Philippe Rochaix as president and chief operating officer of XL Re Latin America Ltd. » Full Story

Ratings

• A.M. Best Assigns Debt Rating to Unum Group’s Forthcoming New Senior Notes: A.M. Best Co. has assigned a debt rating of “bbb-” to the forthcoming $400 million 5.625% senior unsecured notes to be issued on September 15, 2010 of Unum Group (Unum) (headquartered in Chattanooga, TN) [NYSE: UNM]. The rating outlook is positive. » Full Story

• A.M. Best Assigns Ratings to American Retirement Life Insurance Company: A.M. Best Co. has assigned a financial strength rating (FSR) of B++ (Good) and issuer credit rating (ICR) of “bbb+” to American Retirement Life Insurance Company (ARLIC), a subsidiary of Loyal American Life Insurance Company (Loyal) (Cincinnati, OH), which in turn is indirectly owned by Great American Financial Resources, Inc. (GAFRI), a wholly owned subsidiary of American Financial Group, Inc. [NYSE: AFG]. The outlook assigned to both ratings is stable. » Full Story

• A.M. Best Places Ratings of General Fidelity Ins. Co. Under Review Negative; Comments on Ratings of TIG Ins. Co.: A.M. Best Co. has placed under review with negative implications the financial strength rating (FSR) of A- (Excellent) and issuer credit rating (ICR) of “a-” of General Fidelity Insurance Company (GFIC) (Columbia, SC). Concurrently, A.M. Best has commented that the FSR of B+ (Good) and ICR of “bbb-” of TIG Insurance Company (TIC) are unchanged by its recent acquisition of GFIC, as TIC’s level of risk-adjusted capital remains supportive of its ratings following the consolidation of GFIC. TIC is an indirect, wholly owned subsidiary of Fairfax Financial Holdings Limited. » Full Story

• A.M. Best Revises Outlook to Negative for Star Casualty Insurance Company: A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of B++ (Good) and issuer credit rating of “bbb” of Star Casualty Insurance Company (Star Casualty) (Coral Gables, FL). » Full Story

• A.M. Best Withdraws Ratings of Colonial Life Insurance Company (Trinidad) Limited: A.M. Best Co. has withdrawn the financial strength rating of C (Weak) and issuer credit rating (ICR) of “ccc” of Colonial Life Insurance Company (Trinidad) Limited (CLICO) (Trinidad & Tobago) and assigned an NR-5 (Not Formally Followed) to the FSR and an “nr” to the ICR. The ratings have been removed from under review with negative implications. CLICO is an insurance member company of CL Financial Limited (CL Financial), a diversified holding company based in Trinidad & Tobago. » Full Story

United Kingdom

• Equitable Life Steps Up Pressure for Compensation: The management of the failed U.K. mutual life insurer Equitable Life Assurance Society has increased pressure on the government in its long-running attempt to win "fair and transparent payments" for policyholders affected by the earlier collapse of the company. » Full Story

• Towers Watson Finds Growth in UK Enhanced Annuity Market: Enhanced annuities, which are offered to customers whose medical conditions, habits or occupations are deemed likely to shorten their life expectancies, are growing in importance in the U.K. life market. » Full Story

A.M. Best Reports

• A.M. Best Special Report: Canada Manages Effectively Through Turbulent Times: Canadian insurers were able to rebound in 2009 from difficult market conditions in 2008. Capitalization improved for the property/casualty (P/C) industry, benefiting from realized and unrealized gains in 2009. Life insurers’ premium income declined, though favorable trends have emerged in balance sheet and product de-risking and access to the capital markets. » Full Story

• A.M. Best Special Report: Healthy Earnings Mask Looming Challenges for Global Reinsurers: Robust earnings reports mask challenges ahead for the global reinsurance industry: a convergence of market pressures, low interest rates and tightening financial and market regulations that could impact the industry’s capital. These global and multifaceted effects could be compounded by any significant catastrophe, including hurricanes that develop in what’s predicted to be an active season in the Atlantic basin. Prudent reinsurers are looking at every aspect of their operations—capital management, underwriting discipline, the size of their balance sheets and even their countries of domicile. » Full Story