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  • Hawaiian governor Linda Lingle has signed a new law making the transfer of insurance-linked securities to the capital markets more efficient for captives.
  • Capita Group Ltd and Marsh UK have finalised a 10-year outsourcing deal, worth £187mn, that will see around 600 staff transfer to the outsourcing giant, as predicted earlier this week by The Insurance Insider.
  • The auditors of failed insurer Independent Insurance have been fined £500,000 and ordered to pay costs of £1.15mn by the UK accountancy watchdog after a tribunal found the firm's conduct "seriously below the appropriate standard".
  • Paul Jardine, COO of Catlin Group, has been returned as chairman of the Lloyd's Market Association (LMA).
  • Willis Group Holding's international division has recruited former Allianz executive Margo Black to head up its reinsurance operation in the newly deregulated Brazilian market.
  • Insurers face a greater threat from weak pricing than from the credit crisis in the months ahead, according to Swiss Re.
  • Angus Cameron is to join Marsh as CFO of its UK operations, parent company MMC confirmed last week.
  • US insurer Assurant Inc has announced the completion of its catastrophe reinsurance programme for 2008 and, with rates falling, was able to buy additional cover.
  • The Chubb Corporation has appointed John Dengan as vice chairman and chief operating officer among several senior promotions at the US firm.
  • Around three-quarters of London market insurers believe they will underestimate the impact of rate softening, according to a report from Ernst & Young (E&Y).