May 2008/2
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Bermudian (re)insurer Validus Holdings Ltd has formed a new Miami-based company to act as an approved coverholder for its Lloyd's Syndicate 1183.
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The US Securities and Exchange Commission (SEC) is to begin distributing over $800mn to American International Group (AIG) shareholders as part of the giant's settlement with regulators.
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Willis has launched a new Malta-based captive management operation, Willis Management (Malta) Ltd.
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UK listed broker Jardine Lloyd Thompson Group (JLT) has strengthened its reinsurance operations with a slew of appointments from rival firms.
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Aon Corp has expanded its presence in the Latin American market after snapping up Peruvian reinsurance intermediary, Cosegur Re.
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The chairman of "Class of 2005" firm Flagstone Reinsurance Holdings said its nimble stature was key to its ability to ride through the softer market conditions.
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Max Capital Group Ltd revealed net income slumped $72.3mn compared to the prior-year period, which has been attributed to losses on investments.
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Allied World Assurance Company Holdings Ltd (AWAC) said underwriting discipline helped net income grow by $17mn in the first quarter of 2008, compared to the prior-year period.
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Bermudian sidecar-style reinsurer Castlepoint Holdings Ltd continued to grow both its top and bottom line in the first quarter.
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Monoline bond insurer MBIA Inc is suing two insurers over a $75mn settlement it made with US regulators last year.
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The continuing saga of QBE Insurance's merger approaches to Insurance Australia Group (IAG) is beginning to take on the appearance of an Australian soap opera as twists and plot developments play out through the Australian Stock Exchange.
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Profits at specialty insurance group Markel Corporation shrank by 66 percent after the firm was hit by a $56.3mn loss in its investment portfolio.
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Shares in Highway Insurance Holdings plc nosedived after the UK motor specialist offered a bleak update on the sector leading to fears its dividend might be cut.
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Standard & Poor's (S&P) has improved the outlook on Montpelier Re Holdings Ltd (MRH) and its core operating subsidiary Montpelier Reinsurance Ltd (MRE) from negative to stable citing "meaningful" improvements in enterprise risk management (ERM).
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Rating agency AM Best has downgraded Lehman Brothers subsidiary Lehman Re because it has been under-utilised.
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Embattled bond insurer FGIC Corp said it has received a "significant number of indications of interest" since revealing that it was looking for a fresh capital injection.
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Monoline bond insurers Security Capital Assurance (SCA) and Assured Guaranty Ltd (AGL) both reported further losses in the first quarter of 2008.
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The US Senate has rejected moves to add wind coverage to the federal programme that provides flood insurance.
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The UK Treasury is under renewed pressure to create a more favourable tax regime for businesses or face an exodus of corporations to overseas domiciles.
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Marsh & McLennan Companies (MMC) slipped to a $210mn first quarter net loss as a result of a $425mn goodwill writedown at its security consulting arm Kroll.
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First quarter profits fell at US insurer HCC Insurance Holdings Inc following losses in its investment portfolio.
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As RSA announced a 15 percent rise in group net written premiums to £1.7bn in the first quarter of 2008, compared to the prior-year period, one analyst believes it is "likely" the group will be broken up.
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Trading risk platform Insurance Futures Exchange Services (IFEX) is to facilitate margin trading during the North Atlantic wind season - in a move that may encourage greater activity on the derivative exchange.
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Three companies have joined together to launch ACR ReTakaful Holdings Ltd, the largest retakaful company in the reinsurance industry with a capital base of almost $300mn.