Underwriter placed on watch

Underwriter Insurance has been placed on negative watch by ratingsagency Fitch following the departure of chief executive and co-founderKeith Rutter.

Mr Rutter has left the insurer "by mutual agreement" and will be replacedby Nigel Rogers, currently a non-executive director of TheUnderwriter.

Robert McCracken, Chairman of The Underwriter, said: "We are very pleasedto announce Nigel's appointment as ceo. We are grateful to Keith Rutterfor his contribution to the development of The Underwriter i