July 2009/4

Bermudian Validus Holdings has turned to former Aon Re executive Maureen MacDonald to lead its new European reinsurance representative office in Germany.

JLT appoints new information chief; CCV unveils new CEO

XL Capital has disposed of another chunk of its non-core operations with the sale of its US life reinsurance business to Scor for a total of EUR31.7mn cash.

UK regulator the Financial Services Authority (FSA) last week fined London-based HSBC Insurance Brokers £700,000 for not having adequate systems and controls in place to protect its customers' confidential details.

Amlin closed its EUR350mn acquisition of Fortis Corporate Insurance NV (FCI) from the Dutch state last week after receiving regulatory approval.

Around 270 jobs have been cut from The Hartford Financial Services Group’s investment products division in recent weeks, as the US insurer continues to suffer at the hands of its variable annuity (VA) business.