December 2007/4

AM Best bolstered its London operations with the hiring of Lloyd's head of capital and broker relationships, Nick Charteris-Black.

Ironshore Inc - the Bermudian start-up insurer currently circling the quoted Lloyd's minnow Heritage Underwriting - has appointed the former Lloyd's chief executive Ron Sandler as chairman.

Ratings agency Moody's Investors Service has placed the financial strength ratings (FSR) and subordinated debt rating on Hannover Re Group subsidiaries on review for possible upgrade.

Wendy Baker has resigned from her post as president of Lloyd's America to pursue other interests.

The legacy of Stirling Cooke Brown, the Goldman Sach's sponsored accident & health (re)insurance broker which finally collapsed in 2003, re-emerged last week after the Financial Services Authority (FSA) banned two of its key executives from operating in t

Bond investors on Zurich Financial Services' (ZFS) loss-stricken Kamp Re 2005 paid out $29.7mn in losses from the principal amount of the notes on 14 December.

With Kiln plc set to become the sixth Lloyd’s insurer snapped up this year after its board approved a £442.2mn offer from Japan's Tokio Marine & Nichido Fire Insurance Co (TMNF), attention has already turned to who the next target in the sector will be.

Questions over Bermudian reinsurer XL Capital's exposure to the sub-prime debacle continue to dog the firm as it mulls a rescue for monoline bond insurer Security Capital Assurance (SCA).

US insurance group American Finance Group Inc (AFG) has bought a majority interest in Lloyd's insurer Marketform Group Ltd, The Insurance Insider can reveal.

Aon Corp is selling its US property and casualty arm Combined Insurance Co to ACE Ltd for $2.4bn and has committed to returning all the proceeds to its shareholders.

The US holding company of Bermudian (re)insurer Allied World Assurance Company Holdings (AWAC) has entered into an agreement to purchase Converium Insurance (North America).

Catlin Group Ltd's Bermudian operating subsidiary has launched a new cat bond, Newton Re, providing $225mn of cover in two tranches for US wind and quake over a three year period.