August 2007/5

Newly-listed Tawa plc has raided outsourcing firm Axiom Consulting as it strengthens its asbestos, pollution and health hazard (APH) team.

Lloyd's insurer Novae Group plc has announced that Jonathan Butcher will become active underwriter of its Syndicate 2007 following the retirement of the incumbent Alan Hicks later this year.

Bermudian reinsurer PartnerRe Ltd has relocated its global reinsurance business to Dublin in order to take advantage of the Europe Union's regulatory regime, said the company.

Lloyd's (re)insurer Kiln plc has improved its outlook on three of its four trading syndicates in 2005, the company confirmed last week.

Independent Insurance's London Market division was accepting "rubbish business" where "no premium was too cheap" the company's former chief executive Michael Bright told a court last week.

French reinsurer SCOR Group revealed a 55 percent increase in its gross written premium during the first half of this year, primarily driven by its acquisition of the life reinsurer Revios.

The unravelling of the "Spitzer" agreements made by the former New York attorney general and the global brokers in 2005 continued last week with news that Willis Group could also start charging fees to insurers.

The current crisis in the money markets has led to insurers cancelling planned debt issues, Insider Week can reveal.