April 2007/5

Catlin Group underwriter Matthew Yeldham has become the latest ex-Wellington Underwriting employee to leave the group after it was confirmed he would be joining Bermudian firm Aspen Insurance Holdings Limited as its head of International Insurance.

David Shipley, one of Lloyd’s leading underwriters, has stepped down from the syndicate he founded in 2000.

Last week’s shock decision by Standard & Poor’s (S&P) to downgrade IPCRe from A to A- has been questioned in some quarters and sent out a strong message to peers with a focus on volatile catastrophe reinsurance business.

AXA is set to securitise a further portion of its motor portfolio some 18 months after its landmark FCC Sparc transaction.

Standard & Poor's (S&P) decision to upgrade Lloyd's to A+ will surprise few people but it will still be a significant fillip to both the Corporation’s senior management and the insurers who underwrite through the market.