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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.