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November 2007/1

  • Cullum Capital Ventures (CCV), part of the Towergate group, recruited two teams from troubled property services group Erinaceous last month.
  • Validus Holdings-owned Talbot Underwriting has become the latest Lloyd's insurer to launch an Asian venture through the Corporation's Singapore platform.
  • Australian (re)insurer QBE has rebranded its European operations which means the loss of the name of its Lloyd's (re)insurance arm, Limit.
  • China Reinsurance Group, the country's largest reinsurer, is planning an initial public offering (IPO) after inviting "strategic" investors to buy stakes, according to a statement from the company last week.
  • Bermudian insurance start-up Ironshore Inc has made a significant step in its roll-out strategy with its acquisition of a US admitted insurer Stockbridge Insurance Company from Folksamerica Reinsurance Co.
  • Fast-expanding (re)insurer MAPFRE SA announced its boldest move yet when confirming last week its $2.2bn acquisition of the Massachusetts-based non-life personal lines insurer The COMMERCE Insurance Company.
  • The board of Willis Group Holdings has approved a new $1bn stock buyback plan.
  • Integro has taken on two international property brokers John Millar and Andrzej Danyluk from reinsurance broker Guy Carpenter.
  • Although Berkshire Hathaway reported a 64 percent hike in third-quarter net income late Friday (2 November), underwriting profits from its (re)insurance operation nearly halved, falling from $917mn to $486mn.
  • The management of German giant Munich Re is confident that the firm will return record profits for 2007 after posting "excellent results" so far this year.
  • Shares in US insurance giant, American International Group Inc (AIG), continued its rollercoaster ride on the New York Stock Exchange last week, twice plumbing the depths of new 52-week lows as investor unease mounted over the group's sub-prime...
  • Goldman Sachs' entry to Lloyd's with a syndicate for the 2008 year – exclusively revealed by The Insurance Insider today (5 November) - occurs against the backdrop of the capital markets' increasing appetite to assume (re)insurance risk.
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