February 2008/1

Despite having to write down $27.1mn from sub-prime affected securities, US reinsurer Transatlantic Holdings Inc's 2007 profits were boosted by a stronger investment performance.

Giant bond insurer MBIA Inc has seen its results decimated by the recent sub-prime debacle, posting a $1.9bn loss last year, down from an $819.3mn profit in 2006.

The $250mn loss of an African telecommunications satellite at the end of last year was placed in the space insurance market by Willis, with cover understood to be led by Munich Re.

Specialty reinsurance broker Carvill’s ReAdvisory arm has appointed Dr Steve Smith as president of its new property solutions division.

AJ Gallagher & Co's (AJG) new onshore/offshore energy and utility broking subsidiary is set to welcome the latest addition to its team - Neil Jurd, who has resigned from JLT Agnew Higgins, Insider Week understands.