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July 2008/3

  • Integro Insurance Brokers has parted company with John Chippindale, the managing director and president of its Canada operation, The Insurance Insider can reveal.
  • As the global credit crisis continues to widen and deepen, separating companies whose share performance signals underlying concerns over the sub-prime fallout from those dragged down by the general stockmarket malaise is becoming increasingly difficult.
  • As D-day approaches for the protracted auction of RBS' Insurance operations there are now thought to be just three insurers firmly in the running.
  • Imagine Group Holdings Ltd's chief underwriting officer Robert Forness is to leave the (re)insurer to head up Hiscox Bermuda, The Insurance Insider revealed today (21 July).
  • A landmark run-off transaction expected to come to market next month is understood to involve a subsidiary of Wurttembergische und Badische Versicherungs-AG (Wuba), The Insurance Insider can reveal.
  • 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...
  • Tropical Storm Dolly motion is expected to move into the Gulf of Mexico and head towards the US/Mexico border later in the week, according to the United States National Hurricane Centre.
  • Lloyd's is "better positioned" to weather the current insurance cycle thanks to recent initiatives to shore up capital and limit pressure on the central fund, according to rating agency Moody's.
  • Reinsurance broker Guy Carpenter & Company said there were no surprises as the market continued to soften at the 1/7 renewals.
  • Second quarter US cat losses, which the ISO has revised upwards to $6.03bn, are likely to hit the bottom line of personal as well as commercial lines insurers, according to the latest analysis from Fox-Pitt, Kelton.
  • Xchanging is poised to agree a major outsourcing deal with the expansive (re)insurance broker Cooper Gay & Co Ltd to take on the firm's back office functions, The Insurance Insider revealed last week.
  • State Farm Insurance has blamed the Florida authorities for its decision to seek premium increases of nearly 50 percent across the state for homeowners insurance.
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