July 2008/4
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Aon Risk Services called on the New York attorney general and Department of Insurance to introduce greater transparency and consent standards for all insurance brokers operating in New York.
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Dutch insurance giant AEGON has closed a £250mn value in-force (VIF) life insurance securitisation with Barclays Capital that unlocks cash tied up in its primary UK subsidiary, Scottish Equitable.
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Allianz is poised to close a $120mn US catastrophe bond under an innovative new structure that is designed to minimise basis risk by drilling down to cover (re)insurers' actual loss exposures in greater detail.
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Munich Re's second quarter and full-year 2008 profits warning at the end of last week reflecting its weakened investment performance may serve as a bellwether for the (re)insurance industry as its bottom line continues to be hit by capital markets turmoil
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XL Capital's short-call announcement yesterday that it would report second quarter results after markets close later today comes as speculation grows that the troubled Bermudian is set to reveal details of a strategy to turnaround its fortunes.
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Max Capital Group became the latest Bermudian (re)insurer to acquire a Lloyd's platform last week after buying Imagine Group (UK) Ltd.