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  • Marty Becker, CEO of Bermudian (re)insurer Max Capital, last week reiterated the firm's commitment to expansion after losing out on a tie-up with IPCRe last year, saying that "we consider enhanced scale to be desirable".
  • US insurer Chubb reported a nearly 20 percent year on year drop in second quarter net income to $419mn, despite suffering record losses from the spate of tornadoes that struck the US in the period.
  • Kingsway Financial Services (KFS) returned to the black in the first quarter, despite a net operating loss and its combined ratio ballooning by 30.4 percentage points from a year earlier to 136.2 percent.
  • But unique circumstances unlikely to set precedent for those with solid D&O cover
  • Rating agency Standard & Poor's (S&P) says that more (re)insurers are likely to become insolvent as Solvency II puts the industry through a "revolution".
  • Omega Insurance Holdings confirmed last week that chairman Walter Fiederowicz is stepping down from the company, with a successor expected to be in place by 1 January 2010.
  • Marsh has missed key deadlines in its acquisition talks with HLF Group Plc, leading to speculation that the world’s largest insurance broker may withdraw from the proposed £350mn takeover.
  • Despite posting credible numbers for the first half of the year, Jardine Lloyd Thompson Group plc’s (JLT) share price fell almost 10 percent in early trading today as investors again reacted nervously to the bleak trading conditions confronting the firm.
  • Bermuda's Platinum Underwriters revealed it had significantly pared back premiums written at 1 January renewal as it reported record fourth quarter and full year profits.
  • Bermudian (re)insurer XL Capital last Wednesday (4 January) announced a senior management reshuffle, as it steps up its long-term succession strategy to replace CEO Brian O’Hara. As part of the restructuring, James Veghte has been appointed chief...