Bermuda insurers have managed to lure yet more talent from embattled giant American International Group, as three Island companies yesterday announced the hiring of a combined eight former AIG staff.

Class of 2005 reinsurer Validus Holdings announced the expansion of its Global Technical Lines Division in the US, UK and Asia through the appointment of specialist underwriters in each region - all six of whom were formerly with AIG.

Hiscox, the Bermuda-domiciled Lloyd's specialty insurer, which had already hired at least three AIG executives over the last few months, yesterday added another with the appointment of Steve Silverman.

Mr. Silverman, former assistant vice-president and product line manager for AIG's Lexington Insurance's inland marine and specialty property business in the United States and Canada, will lead Hiscox's newly created US inland marine business.

Bermuda technical lines insurer and reinsurer Torus Insurance Holdings Ltd. also announced the appointment of John Williams as its global head of business operations.

In his former post at AIG, Mr. Williams was senior vice-president of operations for the Small Business Division, one of the company's fastest growing commercial units in the US.

With Torus, Mr. Williams' work will include responsibility for business architecture, management and execution of workflow processes including Torus' offshore operations in India.

"The application of the right technology and processes can be a huge advantage to business especially if they are applied in the earliest stages of its development," Mr. Williams said. "Focussing on getting these areas right in the short term, as Torus is doing, means greater opportunity for growth in the longer term."

Torus, headed by former XL Insurance CEO Clive Tobin, was launched last June with $720 million of capital.

The spate of appointments announced by Validus follow the formation of New York-based Validus Underwriting Risk Services Inc. (VURS) in December last year, led by David Hawksby - himself the former president of AIG's Global Energy Property Division, responsible for handling all technical lines business.

The company's Global Technical Lines Division will be underwriting on behalf of Talbot Underwriting Ltd through its Lloyd's Syndicate 1183.

George Reeth, deputy chairman and president of Validus, the new recruits would help the company "further strengthen our platform as we look to expand our global distribution channels and new business opportunities, which are critical elements of the Group's strategic development plan".

The new underwriters announced included Kudret Oztap, who has joined VURS as senior vice-president responsible for underwriting in the US. Mr. Oztap has significant operations and energy underwriting experience gained through senior positions at AIG and ACE

Stephen Sykes and Stephen Tresadern have been appointed senior vice-presidents of Underwriting Risk Services Ltd., Global Technical Lines Division.

Mr. Sykes is a former vice-president, Oil and Petrochemical, Energy Division at AIG UK Ltd., while Mr. Tresadern is a former corporate manager, Energy at AIG UK Ltd. He has also held underwriting positions at Hannover Re, Wellington Underwriting Agencies and AE Grant Underwriting Agencies. Both will be based in London.

Ash Khan joins the Validus group as executive vice-president Global Technical Lines Division of Talbot Risk Services Pte, Ltd. in Singapore. He is a former president, Global Marine & Energy, Pacific Rim at AIG, where he oversaw underwriting in Southeast Asia, China, the Far East and Australasia.

he team will be supported by two engineers based in London, Philip Walker and Andy Goddard. Mr. Walker has 40 years of engineering and risk management experience, most recently with AIG UK Ltd. and CIGNA Services (UK). Mr. Goddard previously held risk management and engineering positions at AIG UK Ltd. and ExxonMobil Chemical Ltd.