October 2006/2

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.

Aon announced the appointment of Clive James as group managing director of Aon Insurance Managers (AIM) Global, the captive management division of Aon Captive Services Group (ACSG) last week (3 October).

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

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

A benign conclusion to the 2006 hurricane season could speed up the softening market for non-catastrophe exposed property casualty (re)insurance worldwide.

Lloyd’s CEO Richard Ward has used his maiden speech to the industry to outline the challenges the Corporation faces.