July 2008/3
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The final defendant in the cases related to illegal payments made by Milberg Weiss has pleaded guilty to a charge over tax.
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European insurance and reinsurance trade body, the Comité Européen des Assurances (CEA) has renewed calls for an extension to regulation granting the insurance industry the ability to bypass certain competition laws.
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London-headquartered (re)insurance broker Cooper Gay & Co Ltd secured £31.6mn of new funding last week which may help the fast-expanding group finance new acquisitions.
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Bermudian (re)insurer ACE Limited has completed the redomestication of its holding company from the Cayman Islands to Zurich after receiving shareholder approval.
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Despite increased competition in the run-off sector and turbulence in the international credit markets, run-off specialist Randall & Quilter has revealed that there are still a number of business prospects it plans to explore.
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Max Capital president of reinsurance and co-founder John Doucette has left the company to "pursue other opportunities".
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As the second quarter earnings season begins in earnest, asset drag and casualty reserve releases are expected to emerge as dominant themes, while investors will look for guidance on the spate of weather-related losses and potential sub-prime liability...
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Bermudian (re)insurer XL Capital's woes appear to have deepened this week with at least one insurer, understood to be Chubb, taking the company off its security list for facultative placements, The Insurance Insider can reveal.
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Law firm Clyde & Co has hired Susan Stryker, formerly of Sterns & Weinroth, as it seeks to expand its US (re)insurance practice.
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Towergate Partnership subsidiary Towergate Financial has raised over £100mn to establish a national independent financial adviser (IFA) operation which it plans to build with the acquisition of regional IFAs.
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Willis Group Holdings named Gary Schmalzriedt as the chairman of its reinsurance brokerage, Willis Re, last week.
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Bermudian-headquartered Scottish Re has seen one of its subsidiaries sink further into junk status last week just days after the embattled reinsurer finally published its full-year results.
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