August 2008/1

Insider Publishing Ltd is delighted to announce the launch of Inside FAC, its latest title providing exclusive insight and analysis of the latest trends and developments in the growing global facultative marketplace.

William Stovin has been appointed as president and COO of Markel Corporation's London subsidiary Markel International, replacing US-bound Gerry Albanese.

Canadian (re)insurance conglomerate Fairfax Financial Holdings has declared its 165p a share cash offer for Lloyd’s (re)insurer Advent Capital Holdings Plc unconditional after securing a controlling interest in the company, as the Advent board reiterated

UK insurer Liverpool Victoria Insurance Company Ltd (LV) has emerged as the bidder for UK motor insurer Highway Insurance Group plc.

Swiss-domiciled reinsurer Paris Re Holdings Limited has announced improved results for the first half of 2008, with net income up by around a third to $150.6mn despite taking a $14.2mn hit from Windstorm Emma.

Lloyd's insurer Chaucer Holdings plc reported a slump in half-year profits as it was hit by the double whammy of heavy claims and difficult investment conditions.

Highway Insurance Group plc has confirmed that it is in "advanced discussions with a third party" about a potential takeover after shares in the motor insurer surged this morning amid M&A speculation.

Swiss Re is re-shuffling senior management in its beleaguered financial markets division, and putting its "non-core" businesses into run-off, The Insurance Insider can reveal.

In common with many (re)insurers reporting half-year figures, Brit Insurance Holdings plc saw profits suffer as a result of unrealised losses on its investment portfolio, partly offset by reserve releases and a foreign exchange profit.

Bermudian CastlePoint Reinsurance Company Ltd has agreed a $135mn deal to buy US excess and surplus (E&S) lines and admitted insurer Hermitage Insurance Group.

SCOR has reported a 24.3 percent rise in half-year net profits as last year's Converium acquisition continues to fuel the reinsurer's results.

Paul Lumbis, the former managing director at Guy Carpenter & Co Ltd's M&A division at GC Securities Ltd is to head a new corporate finance advisory practice Atlas Partners LLP.