January 2008/3

Ron Sandler, the chairman of Bermudian insurer Ironshore Ltd and the former chief executive of Lloyd's, is poised to run the stricken UK bank, Northern Rock, if it is nationalised.

Ratings agency Moody's has downgraded the senior secured debt ratings of giant bond insurer MBIA Inc, on the back of "various financial developments and capital initiatives" recently announced by the firm.

The hard market party enjoyed by (re)insurers over the last few years may be ending, but it is not over yet, according to ABN AMRO analyst Joanna Parsons.

Stockbroker Equity Development are upbeat about Randall & Quilter Investment Holdings (R&Q)'s prospects following its recent initial public offering and approval to establish a Bermudian reinsurer, R&Q Re (Bermuda) Ltd.

Capita Group plc has won the £200mn contract to run Marsh UK's back office in a deal which will see 650 of the broker's staff move to the outsourcing firm.