Benfield has warned that recent senior departures from its facultative team will hit 2006 full year results.
Following the resignation of certain senior members of its Facultative Solutions team, as alerted by Insurance Times on Friday , Benfield has found it necessary to commence a legal process in order to protect its business interests.
Benfield is no longer confident of facultative revenues previously anticipated in the final quarter of 2006. On current estimates Benfield expects trading profit for the year to be approximately £10m below the level previously anticipated.
Benfield, however, confirmed that it is still committed to maintaining its global facultative capability and has already put in place measures to strengthen leadership of this area of the business and to ensure continuity.
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