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  • Lloyd's-based insurers joined their peers in Europe and across the Atlantic in giving additional capital back to their shareholders.
  • Lloyd's reinsurer Advent Capital saw its share price rise by 7 percent on the first day of trading in the company’s stock on Friday, 3 June. Advent shares rose from their AIM debut of 35p to 37.5p, lifting the company’s market capitalisation to £82mn.
  • Laptop asks whether Names are still able to write a spread book at Lloyd’s and (again) calls for improved methods of business classification The opportunity for Bespoke Names to minimise their risk through a properly spread book has shrunk to worrying
  • An 11-strong group of reinsurers that includes Lloyd's of London and eight of the top ten global reinsurance groups used last week's Monte Carlo Rendez-Vous to launch a worldwide body to represent the industry with a unified voice.
  • Federal prosecutors are readying a grand jury to consider whether to indict American International Group (AIG)’s former head of Financial Products (AIGFP) Joseph Cassano, according to the Wall Street Journal.
  • Benfield’s head of aerospace reinsurance, Stephen May, is set to leave the group only weeks after it was announced the company would be the co-broker on an innovative $250mn space consortium. According to the broker, May will leave the company...
  • Steve McGill, the former chief executive of Jardine Lloyd Thompson Group plc, has left his short consultancy role at Benfield Group to join Aon Corp.
  • Mark Hewlett, the former Sedgwick broker and European insurance managing director of Moody’s, has left the rating agency, Insider Week can reveal.
  • Start-up European reinsurer Glacier Re has added to its pool of underwriting talent with the appointment of Franco Masciovecchio as senior underwriter on its property and energy portfolio.
  • Zurich Specialties London Limited (ZSL), the London arm of Zurich Financial Services (ZFS), has had its financial strength rating cut from A to B++ with a negative outlook by AM Best as a result of its exit from several lines of business and falling gross