May 2007/5

Bermudian (re)insurer Validus Holdings Ltd has suffered its first major departure after taking over Lloyd's insurer Talbot Underwriting with deputy head underwriter Darren Redhead joining DE Shaw.

Ironshore Inc has made its entry into the professional liability sector with an onshore US platform, a move predicted by The Insurance Insider earlier this month.

The UK’s largest privately-owned insurance group, Towergate Partnership (Towergate) is once again courting interest from private equity investors.

Despite winning the support of Converium’s board with an increased bid, SCOR’s attempts to buy its rival have been further frustrated by the Swiss Takeover Board (STB).

Jerry McArthur, formerly managing director of run-off consultants Claims Management Group Ltd (CMGL) is to head up Capita's Commercial Insurance Services (CIS) following the giant UK outsourcing firm's £32mn acquisition of CMGL.

Shares in Greenlight Capital Re leapt 21 percent after its debut on the Nasdaq electronic exchange trading exchange last week.

Lloyd’s start-up Ark Syndicate Management has launched its terrorism, war and political risk business with former Wellington underwriter Simon Low at the helm.

The long-awaited trial of the ‘Independent Three’ – the former directors of the collapsed UK insurer Independent Insurance - is set to start tomorrow (30 May) at Southwark Crown Court, London.