October 2009/4

As the US non-life industry gathers in Florida for the annual PCI conference, one of the unexpected topics was Markel Corp announcement that the group's president and COO Paul Springman had taken an unexplained leave of absence.

Xchanging opens US headquarters; RFIB announces divisional restructure; Towergate acquires Hull-based broker; QBE secures rugby sponsorship deal; Moody’s upgrades Markel Syndicate 3000...

Willis CFO and COO Patrick Regan is leaving the insurance broker to join the world's fifth largest insurance group, Aviva, as CFO.

A new draft of a bill on regulating credit rating agencies is set to be lodged in the US House of Representatives with key language dropped, according to reports.

Bermudian Max Capital Group has appointed Adam Mullan as CEO of Max at Lloyd's - the managing agent for Syndicates 1400, 2525 and 2526 - as it looks to build out its Lime Street platform.

The World Bank is launching a catastrophe bond issuance platform to give governments and other public entities access to international capital markets for natural catastrophe insurance.

Hartford Financial Services Group will pay $1.3mn to resolve a lawsuit from Connecticut attorney general Richard Blumenthal alleging that a former reinsurance business engaged in illegal price-fixing.

In the latest chapter of the bid-rigging saga that has haunted Marsh since 2004, the broking giant and American International Group (AIG) have been served with a lawsuit by US commodity producer and distributor Seaboard Corp.

Luzi Hitz, CEO of European catastrophe information aggregator Perils AG, said the company's plans to provide a European industry-wide loss index will boost capacity in the European insurance-linked securities (ILS) and industry loss warranty (ILW) markets

Credit rating agencies Moody's and S&P have until the end of the week (30 October) to respond to fraud charges levelled in a far-reaching class action suit accusing them of masking the risks of the collapsed Cheyne SIV.

London-based Venture capitalist partnership Alpine Risk Services has provided funding to drive the future expansion plans of the UK transactional consultancy and development firm Wildnet.

Jubilee hires senior ONE Group figure for claims business; RFIB hire Aon Benfield broker as marine director.