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  • Steve Taylor, business development officer for Gallagher Re, is leaving the reinsurance broker to join one of its clients, WR Berkley Corporation.
  • Aon Natural Resources London chairman Tim Fillingham and ex-Navigators UK and Europe CEO David Hope are to set up a new insurance company focusing on energy and commercial property lines.
  • Bermudian reinsurer XL Capital is set to renew a slimmed down version of its Cyrus Re sidecar with $105mn in capital from three tranches of loans.
  • Growth in its life business was the driving force behind a 25 percent rise in profits at Swiss insurance giant, Zurich Financial Services Group (ZFS), it reported today (15 November).
  • Lloyd’s managing agent Beazley is to continue the market trend for share buybacks after announcing the repurchase of £30mn, representing around 5 percent of the company’s issued share capital.
  • SCOR has booked net profits of EUR299mn for the year-to-date, up 93 percent on the prior-year period, along with top line growth boosted by the acquisition of Converium and Revios.
  • Lloyd's insurer Amlin plc will return £120mn of capital to its shareholders due to its “financially robust position following a number of years of strong financial performance”.
  • Zurich Financial Services Group (ZFS) has named ex-Converium Holdings CEO Inga Beale as head of organisational transformation and mergers & acquisitions with effect from 1 January 2008.
  • European giant Munich Re has announced its support for a project to develop a “realistic” global, open-source earthquake model.
  • The Australian Supreme Court has sentenced Dominic Fodera, the former chief financial officer of failed insurance company HIH, to at least an extra year in prison.