December 2006/4

Bermudian (re)insurer ACE Ltd has said that a recent review has confirmed the adequacy of its asbestos reserves.

Bermudian (re)insurer Max Re Capital announced plans to launch a US-based excess and surplus lines platform last week (14 December).

Lloyd’s insurer Beazley Group plc has strengthened its political risk team with the appointments of Peter Jenkins and Marc Werblow.

Lockton International, the fast-expanding arm of US broker Lockton Inc, has recruited the former JLT Re executive Paul Jack. Jack – who left Jardine Lloyd Thompson Group plc recently – will reacquaint himself with Mike Hammond, the former head of JLT Ris

Talbot Underwriting Ltd is to enter two new classes of business as it becomes the latest Lloyd’s insurer to announce an increase in capacity for the 2007 year, with its Syndicate 1183 up 6 percent to £325mn.

Analysts have welcomed Hannover Re’s sale of its US subsidiary Praetorian Financial Group, describing it as a “good deal” that frees up capital to allow the reinsurer to lower its retro spend, underwrite more US catastrophe business and expand into new ma

Guy Hengesbaugh, who quit as COO of beleaguered Bermudian PXRE in April, is close to making an early return to the market with a US property cat focussed start-up on the island, our sister title The Insurance Insider revealed last week.