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July 2008/4
  • (Re)insurance stocks fall sharply again
    (Re)insurance stocks on both sides of the Atlantic have plunged in trading as fears continue to linger over damage to the financial services sector from the fallout of the sub-prime and credit related crisis.
    29 July 2008
  • Aon's Middle East expansion continues
    Aon Middle East has been authorised by the Qatar Financial Centre Regulatory Authority (QFCRA) to operate in Qatar.
    28 July 2008
  • 2Qs show extent of softening rates
    The 2008 second quarter results - which began in earnest last week - demonstrate that rate softening has now become more "entrenched", according to Morgan Stanley.
    28 July 2008
  • Swiss Re bids for Barclays life assurance
    Swiss Re has emerged as one of the possible bidders for the life assurance arm of Barclays Bank, according to reports.
    28 July 2008
  • Normal tropical cyclone season, predicts Guy Carpenter
    Despite a widely predicated active hurricane season in the Atlantic, reinsurance broker Guy Carpenter is not expecting a particularly turbulent year for cyclone activity in the Pacific.
    28 July 2008
  • AIG buoyed by upgrade
    Shares in US giant American International Group Inc (AIG) made a gentle recovery last week buoyed by a Banc of America Securities (BOA) upgrade.
    28 July 2008
  • Fusion founders step down
    Two of the founders of Towergate subsidiary Fusion Insurance Services, Kevin Pallett and Geoff Crisp have stepped down from the company.
    28 July 2008
  • Scottish Re plunges further into junk territory
    Rating agency AM Best has downgraded the financial strength rating of Scottish Re Group Ltd, plunging the embattled reinsurer further into junk territory.
    28 July 2008
  • Amlin follows Lloyd's insurers into US
    Amlin plc has become the latest Lloyd's insurer to enter the US market after announcing the establishment of a representative office in Illinois taking advantage of Lloyd's admitted licence to operate in the state.
    28 July 2008
  • ILWs are a 'mini hard market'
    US national carriers and Florida-only insurers created a surge in demand for Industry Loss Warranties (ILWs) last month, according to Jim Bryce, president and CEO of Bermudian cat specialist IPCRe.
    28 July 2008
  • ARIG first half profits drop
    Arab Insurance Group (ARIG) saw its first half net profits slide as both underwriting and investment income deteriorated.
    28 July 2008
  • Mapfre profits up more than 50 percent
    Spanish (re)insurer Mapfre has reported a 57.7 percent rise in first-half net profit year-on-year to EUR529.4mn.
    28 July 2008
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