April 2007/2

Capita, the giant UK outsourcing firm, has completed the acquisition of run-off consultants Claims Management Group Ltd (CMGL) for consideration of £32mn from UK private equity firm Sovereign Capital Partners LLP.

Ruxley Ventures, the London based firm which specialises in acquiring legacy businesses, is in talks to buy a run-off unit from Italian giant Generali, The Insurance Insider understands.

A principles-based rather than a rules-based approach not just to regulation but to running the entire industry should be embraced by the industry, according to Joe Plumeri, chairman and CEO of Willis.

Sciemus Ltd, which last year entered the satellite insurance market with the $250mn LibSat consortium, is looking to replicate the model on a larger scale in power, The Insurance Insider can reveal.

The prospect of another controversial defection among leading faculatative reinsurance brokers emerged this month with news – first revealed by The Insurance Insider – that Integro Ltd has poached a trio of senior Guy Carpenter executives...

In a year where it would be nearly impossible to make an underwriting loss, Lloyd's revealed that insurers on its platform posted a "record" profit in 2006 of almost £3.7bn.