October 2009/1

Forty years ago the Apollo 11 mission put man on the moon, so it was highly appropriate that Nick Jones' start-up Lloyd's Syndicate - branded Project Apollo - should be allocated the syndicate number 1969.

Swiss Re is scaling back its exposure on the giant 2010 reinsurance programme placed by the California Earthquake Authority (CEA) by more than a third.

Shelbourne CEO steps down; LMA and Xchanging agree to simplify premium settlement; Matanle 'FSA approved'...

Hartford hires new CEO; restocks after Arch raid; Glaser's wait doubles; MMC up 33 percent in 3 months; Contingent capital comeback...

Our monthly column keeping a check on recent US and EU legislative and regulatory developments, in association with Sidley Austin LLP.

The scheme of arrangement for insolvent UK insurer Folksam that was first recommended in 2002 is set to be formerly proposed to creditors "within weeks", The Insurance Insider understands.

Expansive insurers Ironshore and CV Starr have continued to build out their platforms in the US.

Fast expanding insurer Torus has taken Simon Urry from Markel International as senior casualty underwriter in its London offshore energy team...

Although it looks inevitable that Lloyd's will begin next year with its highest ever aggregate capacity, the dawning reality that many (re)insurance rates will be flat-to-down in 2010 has provoked Lloyd's syndicates to moderate their expansion plans.

At £161.5mn, the amount of syndicate capacity traded in the annual Lloyd's auctions last month was up modestly on 2008's £134mn, even if it reflects less than 1 percent of the market's total capacity (2009 aggregate capacity is widely thought to be about £17bn).

Guy Carpenter's European arm has secured a number of high profile account wins, The Insurance Insider can reveal.

The season of mists and mellow fruitfulness is also yielding a bountiful harvest of legacy transactions, not least with the sale of two prominent run-off entities.