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  • UK insurer Hiscox Group has posted record pre-tax profit of £141.4mn for the first half of the year (compared to £109.2mn in H1 2008) as healthy investment returns offset losses from foreign exchange movements.
  • US regulator the Securities and Exchange Commission (SEC) was aware that Allen Stanford and Stanford Financial Group (SFG) were potentially orchestrating a massive fraud as far back as 1997 but did nothing to protect investors for 10 years, a damning report has claimed.
  • Swiss Re confirms closure of London fac operations; FI rates up 15%; FSA keeps Pamplona waiting; HCC to buy out Syndicate 4040; UK privatise welfare?; Hurst-Bannister to chair MRG...
  • Investor demand for peak US wind bonds will strengthen in the fourth quarter after tailing off mid-year, broker Aon Benfield Securities said in its third-quarter report on the insurance-linked securities sector.
  • UK insurance intermediary Towergate Partnership has denied reports that it is drafting in KPMG to advise on restructuring its £560mn in loans and debt facilities which it has used to fund an aggressive acquisition strategy.
  • Ratings agency Moody’s says that the outlook for Australia's property and casualty insurance industry is stable. “The industry has registered a good underwriting performance in the last few years, largely due to its sound claims experience, driven...
  • The long-running Transatlantic Re takeover saga must be resolved in the coming weeks if the US reinsurer is not to be hampered at the crucial 1 January renewal by "perception" issues over its future, senior broking sources warned last week.
  • The overall reinsurance spend from AIG's global P&C operations - currently rebranding as Chartis - is expected to be higher year on year at the 1/1 renewal, sources have suggested to The Insurance Insider.
  • Reinsurance broker Benfield Group predicted better than expected revenues for 2006 on the back of rising reinsurance rates in 2006 and 2007. In a 12 January trading statement, the broker said that it now expected 2006 turnover to grow by 20 percent...
  • Hiscox plc is leading a flurry of proposed bids among Lloyd's (re)insurers to expand their 2010 capacity in order to take advantage of anticipated good trading prospects and the stronger dollar.