June 2007/3

The long-running commissions dispute which saw RK Carvill sue its former client XL Capital and a number of reinsurers was settled at the end of last month when a US court ruled in favour of the reinsurance broker.

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.

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.

Dominic Fodera, a former director of failed Australian insurance company HIH, has been jailed for two years for authorising a prospectus with a material omission.

Lloyd's insurer Novae has entered the UK property market with the appointment of an ex-Wellington Underwriting team.

BP Marsh & Partners plc, the London-based investor in specialist insurance and other financial services, has revealed a 15.4 percent growth in its net asset value last year.