September 2007/4

Former Independent Insurance finance director Dennis Lomas became the last of the firm's trio of senior executives to take the witness stand last week.

Chuck Hewitt is leaving Benfield to join rival Guy Carpenter – the second senior executive to make the journey in two months.

Deutsche Bank is set to launch the trading in catastrophe event-linked futures on the Chicago Climate Futures Exchange (CCFE) later this month, in conjunction with former Brit Insurance chief executive Neil Eckert.

Swiss insurance giant, Zurich Financial Services Group, has revealed a net loss estimate of $260mn for the UK July floods, bringing the group's total for this summer’s events to $660mn.

Shares in UK (re)insurer Beazley Group plc plummeted more than 7 percent in just two days trading on the news that CEO Andrew Beazley sold over 3 million shares in the firm, halving his ownership stake.

Shares in troubled UK lender Northern Rock were in freefall today amid a run on the bank as fears continued over its ability to survive the ongoing US sub-prime triggered credit crunch.

Illinois-based sports underwriter Pro Financial Services Inc was sold last week for $73mn - the equivalent of over seven times "base" earnings.

Validus Re will take a decision shortly on whether to renew its $200mn energy sidecar Petrel Re but says it looks likely to continue with the facility.

UK consolidation giant Towergate has denied suggestions that it is poised to refinance its debt structure or raise further funds to pay for future acquisitions.

US broker Hilb Rogal & Hobbs (HRH) is expected to complete the purchase the Banc of America Corporate Insurance Agency (BACIA), which manages over $1.2bn in commercial insurance and...

Catastrophe modelling firm EQECAT has estimated that insured losses caused by Hurricane Humberto will be less than $1bn.

Hamish Roberts has resigned from JLT Agnew Higgins to head up Aon's expansion into the power sector.