October 2006/2

Lloyd’s insurer Beazley Group plc announced on 4 October plans to raise £150mn in subordinated debt.

French insurer AXA Group announced last week (2 October) a series of managerial appointments in its Mediterranean and Japan Asia Pacific divisions as it paves the way for integration with recently acquired Winterthur.

Converium announced last week (3 October) it has agreed a collateral reduction on its letter of credit facility.

Leading brokers Marsh and Aon have highlighted the rapidly softening UK public indemnity (PI) market.

Fitch Ratings launched the formal European “introductory period” of Prism, the agency's global insurance capital model on 4 October.

Wellington Underwriting Agencies Limited last week (3 October) announced the promotion of Matthew Yeldham to deputy chief underwriting officer of its managed Syndicate 2020 at Lloyd’s.