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  • Shares in the Lloyd’s based (re)insurer Amlin plc have climbed to a new high of 314p on the London Stock Exchange as the company gave another upbeat trading statement last week.
  • The insurance services company Whittington Group has lost two key members of its senior management team with the sudden departure of deputy CEO Richard Whatton and business development director Stephanie Mocatta, Insider Week can reveal.
  • The Asia Pacific market has attracted a $565mn capitalised Singapore-based reinsurance start-up, Asia Capital Re, as private equity backers look for strong returns in the fast growing region.
  • UK regulator the Financial Services Authority (FSA) has told the insurance industry that despite recent progress it still needs to further improve the effectiveness of its risk management frameworks.
  • Three US state attorney generals have written to (re)insurers telling them that they must end special commissions to agents and brokers as agreed in an earlier settlement.
  • Lockton International, the former international operations of insurance broker Alexander Forbes, has swooped for the head of Marsh’s financial and professional lines operations, Neil Nimmo.
  • Private equity giant 3i Group plc has hired a team led by Bruce Carnegie-Brown, the former Marsh executive who left the firm suddenly in May this year.
  • The acquisitive Australian insurer IAG has agreed a £570mn deal to buy UK motor underwriter and broker Equity Insurance Group, 18 months after the company was taken private in an £298mn private-equity backed management buy-out.
  • Marsh Ltd has recruited Zurich Financial Services’ (ZFS) executive Martin South to become the new chief executive of its UK arm, The Insurance Insider can reveal.
  • A landmark UK High Court decision last week likely to increase payouts on some unsettled bodily injury claims will hit reinsurers hardest and lead to rising premiums, according to Swiss Re.