November 2007/4

Aon Natural Resources London chairman Tim Fillingham and ex-Navigators UK and Europe CEO David Hope are looking to launch a new insurance company focusing on energy and commercial property lines.

A trend of expensive P&I (protection & indemnity) pool claims is set to feed through to further rate increases for shipowners, according to the latest report by broker Aon on the sector.

SCOR has booked net profits of EUR299mn for the year-to-date, up 93 percent on the prior-year period, along with top line growth boosted by the acquisitions of Converium and Revios.

Bermudian (re)insurer XL Capital is set to renew a slimmed down version of its Cyrus Re sidecar with $105mn in capital from three tranches of loans.

Financial markets' losses from the falling value of sub-prime mortgage assets may reach $300-400bn worldwide, representing a default on 30–40 percent of global sub-prime debt, according to Mike Mayo, analyst at Deutsche Bank.

Lloyd's has welcomed former QBE Limit underwriter Mark Harrington back into the market with a new composite syndicate expected to offer stamp capacity of £75mn for the 2008 year, Insider Week can reveal.