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  • Lloyd's broker RFIB Group has recruited a new energy team as it seeks to build its presence in the sector.
  • Business outsourcing specialist Xchanging has announced the creation of a London Market Executive Group, with the aim of delivering market initiatives in 2004 and aligning business processes to support market reform.
  • The morale of the London market - which has come up second best against Bermuda in the post 11 September capital raising stakes - was improved with the announced £139mn AIM float of Professional Risk Insurance Ltd.
  • Bermudian giant ACE last week announced plans to spin off its financial guaranty business next year in a New York IPO. ACE said it will offer 65-75 percent of its interest in the new company.
  • Guy Carpenter & Co confirmed last week the appointment of David Spiller as its group chief executive, replacing the long-serving Salvatore Zaffino.
  • The marine investigations arm of Informa Group plc has formed a new Oxford based company, Gray Page Ltd.
  • Embattled French reinsurer SCOR is set to raise up to EUR750mn to repair its balance sheet and fallen financial strength ratings following the approval of its shareholders today (1 December).
  • New Lloyd's chief executive Richard Ward has begun to impose his authority on the Corporation with his first management reshuffle, consolidating business process reform (BPR) responsibilities under the leadership of Steven Haasz.
  • Alexander Forbes International Risk Services (IRS) division followed its parent company's announcement by confirming talks with new investors that would see its South African parent reduce its ownership.
  • The chairman of the French mutual insurer Groupama resigned last week. Jean Baligand, who had been chairman of the insurer’s mutual board since 1996, resigned “due to personal reasons”.