February 2008/3

German giant Munich Re has become the latest group to take advantage of the deregulated Brazilian market.

PARIS RE Holdings Ltd said today it had successfully migrated its portfolio of business from AXA RE onto its own paper at 1/1 renewal.

US insurer WR Berkley Corp reported record net income of $744mn for 2007 despite seeing profits dip 7 percent in the final quarter.

Investment banks are the architects of their own downfall through the collapse in the US sub-prime mortgage market, according to Warren Buffett.

Chaucer Holdings plc will own 100 percent of capacity on Lloyd's Syndicate 4000 after completing a deal to buy out Quanta's interests in Pembroke, the joint venture set up by the companies in 2006 after the Bermudian went into run-off.

Aon Global has appointed Rob Woods as CEO of its London broking teams.

Bermudian Allied World Assurance Company Holdings (AWAC) posted record 2007 net income of $469.2mn, edging ahead of the $442.8mn booked in the prior year as it reported its first results since buying out founding shareholder American International Group..

German reinsurance giant Hannover Re has hailed the 1 January renewals a success, despite falling rates.

The US Securities and Exchange Commission (SEC) plans to turn its sights to the hedge fund community as a target for future investigations into business practices, a spokesman said last week.

Broking giant Willis Group disappointed analysts after recording weak organic growth despite strong earnings in the fourth quarter.

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is to be expanded for 2008 renewal, doubling available coverage to $100mn per peril.

US insurer HCC Insurance Holdings Inc has settled the class action lawsuit over its stock-option granting practices for $10mn.