June 2007/3

Royal & Sun Alliance Insurance Group plc (R&SA) has entered into an agreement to acquire 50 percent of a company giving it access the fast growing Eastern European and Russian insurance markets.

Alliant Insurance Services Inc became the latest US insurance broker to succumb to overtures from private equity investors when it confirmed last week that it had agreed to a takeover from The Blackstone Group.

Lloyd's announced last week that it is to return to the debt markets with a benchmark issue of between £300-500mn in Tier 1 perpetual subordinated debt.

Two subsidiaries of Paris Re, the former reinsurance arm of AXA Re, have been assigned an initial rating of A- by Standard & Poor's (S&P).

Lloyd's has taken a significant hit on its Central Fund dispute after settling with Benfield Group and Aon Ltd, but will be relieved the long-running dispute is over.

DUAL International, the fast-expanding financial and professional lines underwriting agency, is to part company with its chief executive James Gerry following his resignation, The Insurance Insider understands.