Wellington's former director and chief underwriting officer, David Foreman, is thought to be returning to the Lloyd's market less than a year after retiring from the insurer.
According to sources, Foreman's name has appeared on three business propositions currently being considered by the Lloyd's admission department.
"David Foreman will reappear in the market in 2007 and is likely to attract a lot of Wellington staff who he previously worked with," a senior market figure predicted.
One ex-Wellington employee, whom it is thought could join Foreman in a new Lloyd's start-up, is Stan Kott.
Kott resigned as chief executive of Wellington's US operations at the beginning of January
He could choose to head up a service operation with his former colleague.
Foreman, who is highly regarded in the market, stepped down from the board of Wellington and gave up his responsibility for the underwriting of Syndicate 2020 in March 2006.
Lloyd's said: "We do not give a running commentary on the admissions process."