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  • BMS, the independent London market broker, has confirmed the resignation of its chief executive, John Spencer.
  • Run-off (re)insurer Alea Group Holdings has reached agreement to “fully and finally” commute all exposure under an excess-of-loss reinsurance treaty.
  • Capita Group plc has won the £200mn contract to run Marsh UK’s back office in a deal which will see 650 of the broker’s staff move to the outsourcing firm.
  • Derivatives platform Insurance Futures Exchange Services (IFEX) which began trading in US catastrophe risks as futures contracts in September, now has cumulative trading volumes totalling more than $31mn...
  • Bermudian corporate asbestos liability risk reinsurer St George Re is set to begin trading offering US companies protection against asbestos claims, the company confirmed today (9 January).
  • US insurer CV Starr & Co Inc has launched a Lloyd’s energy syndicate with £30mn 2008 capacity in partnership with private equity firm First Reserve Corporation.
  • Recently listed UK run-off firm Randall & Quilter Investment Holdings (R&Q) has appointed ex-Wellington executive John O'Neill as chief operating officer of its UK Insurance Services Division.
  • Fast growing QBE is to expand its US presence after signing an agreement to acquire North Pointe Holdings Corporation for $146mn.
  • The new reinsurance rules introduced in Brazil, which have encouraged Lloyd's to plan an admitted carrier, should boost the region's growth, according to Fitch Ratings.
  • Insurance-linked securities pioneer Swiss Re has announced the final pricing of EURIBOR plus 360 basis points on its EUR200mn French windstorm cat bond, issued on behalf of French mutual Groupama SA.