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June 2008/3

  • The Travelers Companies COO Brian MacLean has also been named president of the group after being promoted from executive vice president.
  • Bond insurer MBIA Inc is reconsidering the deployment of the $900mn it raised in a recent equity public offering, including the launch of a new insurer.
  • Willis Group Holdings has had its debt ratings placed under review for downgrade by rating agency Moody's after last week’s announced $2.1bn acquisition of Hilb Rogal & Hobbs (HRH).
  • In another tough week for the stocks of the UK's quoted non-life insurers, RSA share price was a rare exception buoyed by vague suggestions of a possible bid from QBE.
  • German insurance giant Allianz is in talks with Commerzbank and Postbank over the proposed sale of its embattled banking division Dresdner Bank, according to reports.
  • A potential bid from Zurich Financial Services (ZFS) for the Royal Bank of Scotland's (RBS) insurance unit has continued to place downward pressure on the company's share price.
  • Space insurance underwriters are facing the prospect of yet another loss with the failure of a Kazakhstan communications satellite in orbit, The Insurance Insider revealed last week.
  • Despite strong competition between insurers and the wider financial markets total premium income for European insurers held steady last year, according to figures from the Comité Européen des Assurances (CEA).
  • XL Re's Latin America subsidiary has received regulatory approval to join the Brazilian reinsurance market as an admitted reinsurer.
  • The investment vehicle of former American International Group Inc (AIG) CEO and chairman Maurice "Hank" Greenberg will continue with its planned purchase of a stake in Lehman Bros despite expected senior management changes and the posting of...
  • Speculation surrounding the future of Marsh & McLennan Companies (MMC) security consulting arm, Kroll, was further fuelled at the end of last week when the company announced that founder Jules Kroll is to step down.
  • Lloyd's listed (re)insurer Beazley Group plc is to promote group finance director Andrew Horton to take over from Andrew Beazley as its CEO.