BENFIELD, the world’s largest independent reinsurance broker, was shaken yesterday by the imminent loss of a second director this year when David Spiller announced his departure.

Grahame Chilton, the chief executive, said that Mr Spiller had decided that “his future lies elsewhere”. Mr Spiller, who heads Benfield’s international division, is believed to have been poached by a rival and will leave the company at the end of the month.

Mr Spiller’s departure comes five months after Rod Fox, chief executive of Benfield’s US division, took leave of absence for personal reasons. Mr Fox has not yet returned to the company and his position is being covered by Mr Chilton and Paul Karon, president and chief operating officer of the US division. Mr Chilton thanked Mr Spiller for his “contribution to the development of Benfield’s global platform”. Mr Spiller joined Greig Fester, the broker acquired by Benfield in 1997, in 1979.

Dominic Christian, a Benfield director since September 2004, will take over the running of the international division, which handles the company’s treaty reinsurance business outside the US.

A briefing by Numis Securities yesterday said that Mr Spiller’s departure “will serve as a reminder that, despite Benfield’s much-lauded recent hirings from its bigger competitors, it is not immune from poaching of its senior staff itself”.

Benfield recently lured John Lapsley away from Marsh, the world’s largest insurance broker, after 27 years at the company. Mr Lapsley, who was global head of marine and energy, now runs Benfield’s marine, energy and power practice.

Numis said that the changes on Benfield’s board did not change its view of the company, on which it has a “sell” recommendation.

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