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July 2006/3

  • Around £800mn has been lost from UK general insurance giant Aviva plc's valuation since it confirmed last week that it is in talks with the £1.3bn US fixed-indexed annuity product producer, AmerUs.
  • Liberty Syndicates - one of the largest Lloyd's (re)insurers - parted company suddenly with its managing director Sean Dalton and head of underwriting Andrew Elliot, Insider Week revealed last Friday (7 July).
  • The capacity shortages for catastrophe reinsurance meant rates were up by around 60 percent on average at the key 1 July renewals with some placements left unfulfilled, according to research by investment house, Keefe, Bruyette & Woods (KBW).
  • Bermuda-headquartered Catlin Group has opened an office in Hong Kong, becoming the latest (re)insurer to expand its offering to the growing Chinese market.