September 2007/5

XL Capital has furthered the market trend in repatriating capital after announcing its second share buyback programme this year.

In a coup last week UK life insurer Prudential poached Tidjane Thiam, head of European operations at rival Aviva, to replace its outgoing finance director Philip Broadley.

Pembroke Managing Agency, which was formed last year by Chaucer Syndicates in conjunction with Quanta Holdings, has appointed Mark Butterworth as its managing director.

A series of tornadoes struck towns across England this morning (24 September) damaging homes and vehicles.

Catastrophe modelling firm EQECAT has release its new Atlantic hurricane model, which includes storm surge for the first time.

Insured losses caused by last week’s Typhoon Wipha, which hit China and brought heavy rain to Shanghai, are not expected to reach $250mn, according to catastrophe modelling firm AIR Worldwide.

Veteran class action lawyer Bill Lerach, who represented Enron investors and other shareholders suing large corporations, faces up to two years jail and will be forced to pay $8mn in fines after pleading guilty...

Lloyd's has recruited a number of key London personnel to help the franchise in its continued bid to push process reform.

The House of Representatives approved a Bill on 19 September that would extend the Terrorism Risk Insurance Act (TRIA) for 15 years despite the White House stating it would veto proposals unless amendments are made.

Brit Insurance Holdings plc is to form a Gibraltar based protected cell reinsurer which will provide reinsurance to the UK insurance group.

Lloyd's insurer Illium Managing Agency Ltd is to apply to launch a wholly aligned syndicate to write business on behalf of parent HCC Insurance Holdings, Inc.

Lloyd's insurer Novae Syndicates Ltd (NSL) plans to close the 2002 year of account on its run-off Syndicate 1241 into its Syndicate 2007, it revealed on Friday (21 September).