June 2008/2

Paul Corver has emerged as the most likely candidate to take over from Philip Grant as chairman of ARC, the UK trade body for legacy management professionals, The Insurance Insider has learnt.

Class action pioneer Mel Weiss has been sentenced to 30 months in prison, after pleading guilty to illegally paying clients to file claims.

Regulatory hurdles in Brazil are one of the biggest challenges for risk managers despite the recent deregulation of the country's reinsurance market, according to Willis Energy.

Run-off veteran Jerry McArthur will join Randall & Quilter Investment Holdings Plc (R&Q) as CEO USA and Bermuda after stepping down as chairman of Capita Commercial Insurance Services (CCIS).

Bond insurers MBIA and Ambac have spoken out after their AAA ratings were downgraded to AA by Standard & Poor's (S&P) and placed under review by Moody's.

Security Capital Assurance (SCA) has been hit by a further blow with the three notch downgrade of its two main operating units from A- to BBB- by Standard & Poors' (S&P) on Friday (6 June).

New York attorney general Andrew Cuomo has reached an agreement with three major rating agencies that promises to overhaul the way they collect fees and to improve their process for rating mortgage-backed securities.

Bermudian reinsurer PartnerRe has announced a number of senior management changes in its global (non-US) operations.

Broker Aon Global UK has launched a compliance tool for buyers of global (re)insurance programmes.

Energy broker Guy Bessis is moving to Marsh Ltd less than eight months after joining (re)insurance intermediary Integro, The Insurance Insider understands.

Marsh & McLennan Companies (MMC) announced that CFO Matthew Bartley will become the latest senior executive to leave the company.

Ariel Re's Lloyd's insurer Atrium has appointed Scott Moser - one of the architects of the Equitas transaction with Berkshire Hathaway - as a non-executive director.