December 2014/3

John Parry was last week confirmed as director of finance at the Corporation of Lloyd's on a permanent basis following a competitive process.

Mitsui Sumitomo's accident and health class underwriter Steve Ranzetta is set to join the Lloyd's live start-up Vibe Syndicate 5678, The Insurance Insider has learned.

James Winn, Barbican's head of property and the active underwriter for Special Purpose Syndicate 6113, is to leave the expansive Lloyd's (re)insurer, The Insurance Insider has learned.

David Maynard, the deputy head of Novae's casualty unit, is set to join Navigators, The Insurance Insider understands.

Aspen Insurance's head of international P&C Bob Patten has handed his notice in, The Insurance Insider has learned.

Last month, the price of Towergate's unsecured debt collapsed in the secondary markets as fears grew that the UK broker consolidator would fail to make the £31mn coupon payments due in the first quarter on the various layers of its debt mountain.

Montpelier Re's decision to explore a sale is fresh evidence that cyclical and structural pressures pose a threat to the existence of smaller (re)insurers that have been over-reliant on cat business.