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  • Royal & Sun Alliance Insurance Group plc revealed a group restructuring last week to reflect the focus of the company into its UK, International and emerging markets.
  • Lloyd’s insurers have geared up balance sheets to cash in on attractive post-Katrina underwriting conditions, according to research by equity house Numis Securities Ltd.
  • Swiss reinsurer Converium received approval from the Malaysian regulator on 10 October to write retakaful reinsurance through its local office.
  • Rating agency AM Best is to assess the “tail risk” attached to sidecar operations that are inadequately capitalised.
  • Benfield Group has warned that trading profits are likely to be £10mn lower in 2006 than previously expected because of the loss of senior members of its facultative team to a rival firm.
  • Berkshire Hathaway chairman Warren Buffett has warned his senior managers against using “accounting gimmicks” to manipulate stock options in a memo.
  • US insurer Allstate Corp announced the next phase of its leadership succession plan on 9 October, with George Ruebenson set to take over from Thomas Wilson as president of Allstate Protection.
  • Stephen Snook has led a four-man team from Markel International to form a UK property team at Navigators.
  • South African financial services company Alexander Forbes said it expects earnings per share for the first half of the year to be down by 25-35 percent because of a number of exceptional costs...
  • Moody’s Investors Service became the latest rating agency to upgrade French (re)insurer SCOR to the all-important “A” territory on 13 October.