May 2008/3

ACE Group has expanded its presence in the Middle East with the launch of two new subsidiaries.

Arch Capital Group has announced a new chairman and CEO for Arch Worldwide Insurance Group, following news it is to start a $500mn share buyback scheme.

Bermudian PartnerRe has announced two senior management changes to its non-US global operations.

Florida insurance commissioner Kevin McCarty has stayed an order suspending Allstate's ability to sell new business in the state, according to reports.

Cayman Islands-based reinsurer Greenlight Capital Re revealed its losses more than halved in the first quarter compared to the same period last year.

American International Group (AIG) CEO Martin Sullivan was given the vote of confidence by the company's board last week, despite growing pressure from investors after two consecutive quarters of record losses.

Aspen Insurance Holdings Ltd has announced a $300mn share buyback, which will include a deal to repurchase around 4.1 million shares from one of its founding private equity backers, Candover Partners Ltd.

Brit Insurance Holdings Plc said sub-prime related claims are developing in line with expectations in its interim management statement to investors.

Amlin became the latest Lloyd's insurer to confirm that its premium income is falling amid the softening market conditions.

Arab Insurance Group (Arig) has revealed profits more than halved in the first quarter of 2008, compared to the prior-year period.

Catlin Group Ltd is on track for its full-year forecast, as premium income remains flat in the first quarter of 2008, according to Numis Securities.

Lloyd's insurer Heritage Underwriting Agency plc has applied to the London Alternative Investment Market (AIM) to cancel admission of its shares to the exchange following closure of its acquisition by Bermudian Argo Group International Holdings Ltd.