May 2007/1
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Last week, Standard & Poor's (S&P) issued a ratings upgrade for Arch Capital's operating subsidiaries, citing Enterprise Risk Management (ERM) as a significant factor in the decision (see story 16).
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Chubb Corp is providing itself with $750mn of US windstorm protection over four years with the launch of the East Lane Re cat bonds.
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AXIS Capital Holdings Ltd (Axis) announced strong results for the first quarter 2007, citing new reinsurance business in the US and Europe as the main driver.
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Although the hard market has passed its peak, rates remain broadly stable in non-life reinsurance, according to German reinsurer Hannover Re.
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Despite announcing a $500mn share buyback programme, shares in Marsh and Guy Carpenter parent Marsh & McLennan Companies, Inc, (MMC) were down in early trading today on the back of a sluggish set of first quarter results.
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Lloyd's is piloting technology that will check insurance slips automatically as it continues to promote contract certainty and process efficiencies.
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Brit Insurance confirmed the sale of a controlling stake in its electronic trading platform RI3K to a consortium including ICAP founder Michael Spencer, and hedge fund giant Eton Park LLP, as predicted by Insider Week last week.
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Strong growth in the firm's Americas division propelled Aon Corp's first quarter 2007 earnings and helped offset a weak performance from the group's UK division.
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Portuguese conglomerate Sonae SGPS has acquired a 14 percent stake in the independent reinsurance broker Cooper Gay (Holding) Ltd with the option to double its stake to 28 percent.
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Canadian combine Fairfax Financial Holdings received a ratings boost from AM Best following the reporting of its first quarter results last week.
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US (re)insurer Liberty Mutual Group will continue searching for takeover targets despite its $2.7bn acquisition of Ohio Casualty Corp, according to its president and CEO, Edmund Kelly.
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Lloyd's sector star Amlin plc saw its share price climb around 8 percent last week following entry on to the Dow Jones STOXX select dividend 30 index.
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