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August 2008/4
  • Benfield restructures space brokerage
    Benfield Group Ltd is reshuffling management at its specialist space insurance broker International Space Brokers Inc (ISB) following the resignation of the division’s CEO Roger Bathurst.
    22 August 2008
  • Finite reinsurance execs face heavy sentence threat
    Five former General Re and American International Group (AIG) executives found guilty for their part in a sham reinsurance transaction could face lengthy sentences if prosecutors get their way, according to reports earlier this week.
    22 August 2008
  • SCOR legacy resolution leads to Fitch upgrade
    SCOR has had its Insurer Financial Strength (IFS) rating upgraded a notch to A by Fitch Ratings as the agency said the French reinsurer's past legacies are unlikely to return to haunt it.
    22 August 2008
  • QBE earnings up on underwriting
    Strong underwriting performance boosted overall profits at Australian insurer QBE Insurance Group during the first half of 2008.
    22 August 2008
  • IAG slumps to loss on UK write-downs
    Troubled Australian insurer Insurance Australia Group Ltd (IAG) has slumped to a A$261mn loss after taking a A$350mn charge in relation to the impairment of its UK assets.
    22 August 2008
  • Alabama insurance regulator joins Swiss Re
    Swiss Re has hired Alabama insurance commissioner Walter Bell as chairman of its US operations, Swiss Re America Holding Corporation.
    22 August 2008
  • European insurers weather the storm – Moody's
    Despite difficult conditions and the ongoing capital markets turmoil, underlying performance by European insurers in the first half of 2008 remained relatively strong, according to a report by Moody's Investors Service.
    22 August 2008
  • Moody's affirms Flagstone on Swiss move
    Ratings agency Moody's Investors Service has affirmed the A3 insurance financial strength (IFS) ratings of Flagstone Reinsurance Ltd and its Flagstone Reassurance Suisse SA following the firm’s move to centralise its operating platform in Switzerland.
    22 August 2008
  • Fay set for fourth Florida landfall
    Slow-moving Fay is expected to make a fourth landfall in Florida after becoming just the fourth storm in recorded history to hit the state's peninsula with tropical storm intensity three separate times.
    22 August 2008
  • Spiller to chair Lloyd's insurer
    Bermudian Argo Group International Holdings has appointed former Guy Carpenter CEO, David Spiller, to take the position of chairman at its recently acquired Lloyd's insurer Heritage Managing Agency plc.
    22 August 2008
  • MMC appoints new CFO
    Marsh & McLennan Companies Inc (MMC) has appointed Vanessa Wittman as the group's new CFO, ending its search to replace the outgoing Matthew Bartley.
    22 August 2008
  • Allianz has 10 percent share of Madrid crash
    Allianz has a 10 percent share of the slip for the Spanair McDonnell Douglas MD-82 that crashed at Madrid airport on Wednesday, claiming 153 lives.
    22 August 2008
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