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  • Despite the Willis Group more than doubling second quarter net income from $39mn to $87mn, the sluggish performance of the firm's North American business highlighted the difficult conditions faced by brokers in the US insurance market.
  • US giant property casualty insurer The Hartford announced Friday (19 December) that it has agreed a $1.15bn global claims settlement for asbestos exposures to MacArthur Company and its Western MacArthur subsidiary.
  • General Electric Co (GE) has lost a 10-year battle with insurers over payments relating to thousands of asbestos claims.
  • Lloyd's and international (re)insurer Hardy saw its share price plummet almost 12 percent in afternoon trading today (17 May), as it surprised investors with the scale of its losses in the first quarter.
  • The nascent catastrophe derivatives markets have now traded more than $440mn of notional volume since their inception in late 2007.
  • As predicted in the February edition of The Insurance Insider, Aon Corp has struck a nationwide agreement with US regulators to settle the bid-rigging, kickback and steering investigations into the broking giant.
  • Australian insurance company QBE announced record after tax 2004 profits of A$820mn last Thursday (24 February), an increase of 43 percent on the A$572mn it made in the previous year.
  • Equity analysts at investment bank KBW have taken a neutral stance in their 2005 sector overview of European insurers, citing the end of the hard market, possible non-life reserve shocks and the fact that any good news on the sector has already been price
  • There will be winners and losers in the reinsurance universe from the imminent increase in the Zenkyoren loss notification, as some have their losses made good by retrocession contracts and others find themselves on the wrong side of those covers.
  • New regulator the European Insurance and Occupational Pensions Authority (Eiopa) has opened for business with a second pan-Europe stress test scheduled for the industry next month