October 2007/1

Markel International, part of the stream of Lloyd's insurers opening a Singapore platform, has confirmed former Marsh Asia executive Peter Phillips will head its new office.

Bermuda-headquartered Lloyd’s insurer Hiscox Ltd has begun a share buyback scheme after purchasing 839,699 ordinary shares.

Consistent profitability and predicted favourable returns have prompted rating agency Moody's to upgrade QBE's non-marine liability Limit Syndicate 386 from A- (good) to A (very good).

The proposed Schemes for the 14 WFUM Pools Scheme Companies was sanctioned by the UK High Court on 17 September.

Lloyd's CEO Richard Ward has warned the industry that it faces a "severe skills shortage" and announced that the Society was launching a new graduate programme to attract talent.

Catlin Group Ltd has welcomed AM Best's upgrade of the outlook on the London-listed (re)insurer's A rating from negative to stable.

The trial of three former Independent Insurance executives is drawing to a close in London with the jury expected to start considering its verdict by 21 October, according to the Serious Fraud Office.

Talbot Underwriting Ltd, the Lloyd’s insurer that was acquired by Bermudian (re)insurer Validus Holdings Ltd in July, has appointed Michael Carpenter as chairman and Rupert Atkin as CEO.

Former HIH director Dominic Fodera, who is serving a two-year jail term for issuing misleading financial statements, has pleaded guilty to a further criminal charge relating to the collapse of the failed (re)insurer.

The recent credit crunch is unlikely to dampen insurance linked securities (ILS) investor appetite, according to Standard & Poor's (S&P), as it highlighted increased trading in the secondary market for cat bonds.

Run-off insurer Alea Group Holdings has received a one-time payment of $203.6mn to "fully and finally" commute all exposures with its Bermudian neighbour Max Capital.

Benfield Group's share price continued to climb today (1 October) with news that another US hedge fund has built its stake in the independent reinsurance specialist.