May 2006/6
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Bermudian reinsurer Max Re has today filed its first quarter results, a move that should avert its delisting from the Nasdaq trading exchange.
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Insurance giant Allianz unveiled the restructuring of its large corporate risks units this week while also confirming it was exiting marine reinsurance business after last year’s destructive storm losses.
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Lloyd's insurer Kiln predicted improvements for three of its four syndicates when it updated its syndicate forecasts today (31 May).
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Bermudian giant ACE announced last Friday (26 May) it has promoted Brian Dowd to CEO of its North American insurance operating division.
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The International Monetary Fund (IMF) is to raise its concerns over the lack of (re)insurance in Ireland in a forthcoming report.
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UK broker Windsor plc has acquired the remaining minority interests in Argonaut Indemnity to become the sole owner of the company.
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Japanese insurer Sompo Japan Insurance Inc has been ordered to suspend most of its operations at all of its domestic offices for a fortnight as a result of illegal sales practices.
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An Australian judge has approved a scheme of arrangement for collapsed Australian insurer HIH Group at a sanction hearing in Sydney's Supreme Court on 26 May.
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The High Court has sanctioned the first transfer of business out of a Lloyd's syndicate since the formation of Equitas ten years ago, opening the prospect of a new method to obtain finality for non-trading syndicates.
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Embattled Bermudian (re)insurer Quanta Capital Holdings will move most lines of business into run-off, the company announced on 26 May.
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Swiss reinsurer Converium reported its net income of $61.6mn in its first quarter results, taking the company back to a profit after a $5.5mn loss in the prior-year period.
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Alexander Forbes Group Ltd has announced a Rand380mn (£31mn) settlement with South African regulators over its practice of "bulking" pension funds and said the package will reduce its 2005 earnings by 20 percent.
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