July 2007/1
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AIM-listed Lloyd's insurer Heritage Underwriting Agency plc has bolstered its ranks with the hire of international general liability underwriter Mark Aaron from ACE.
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Flagstone Reinsurance Holdings has further bolstered its underwriting operations with a $100mn issue of debt.
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The British Insurance Brokers' Association (BIBA) has criticised the Financial Services Authority's (FSA) long awaited consultation paper proposing amendments to its Insurance Conduct of Business (ICOB) rules.
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Former American International Group (AIG) supremo Maurice "Hank" Greenberg has countersued his former employer for the second time in as many weeks in an attempt to recover profits...
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German bank HVB Group said it has completely divested its remaining stake in Munich Re, which was equal to about 2.2 percent of the voting rights.
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Proceeds from Paris Re's forthcoming IPO will be used to reduce its retro spend and strengthen share capital at its Swiss operating subsidiary.
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Andrew Goodsell, the former Merrett underwriter, will receive £104mn from the merger of the AA and Saga to create a £6bn motoring and insurance giant.
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A proliferation of extreme natural disasters is expected in the next 25 years, resulting in record insured losses and massive loss of life, according to predictions by Professor Bill McGuire...
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Guy Carpenter has swooped for Chris Klein, the chairman of rival Benfield Group's counterparty risk unit.
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Swiss Re is involved as counterparty in the first insurance linked securities transaction to reference an existing cat bond as a trigger with the launch of $140mn Fusion 2007 Ltd.
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Lloyd's insurer Chaucer is likely to be a target for Bermudian (re)insurers and private equity firms, according to Eamonn Flanagan at Shore Capital.
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It was only recently that a US judge was bemoaning the lack of case law on reinsurance broking commissions and then along comes Benfield Group suing rival Aon Re for $2.4m in damages...
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