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  • The UK's Chartered Insurance Institute (CII) has abandoned plans for a merger with the Australian and New Zealand Institute of Insurance and Finance (ANZIF) after previously undisclosed revenue losses of A$1.5mn came to light.
  • Lloyd's listed insurers saw 2009 pre-tax profits surge threefold in the aggregate as benign underwriting conditions combined with a reversal of fortunes in the investment markets.
  • Bermudian headquartered (re)insurer Catlin saw its share price slip by 21p from 370p to 349p after it revealed a $25mn deterioration on its hurricane loss estimates last Friday (10 December) caused by higher than expected claims on energy installations in
  • Bermudian insurer plans to reduce its Lloyd’s capacity by almost a third to £652mn. ACE, one of the largest capital providers in Lloyd’s, is considering reducing its 2003 capacity by almost £300mn to £652mn.
  • Existing estimates of the global (re)insured losses arising from sub-prime, credit crisis, liquidity and fraud-related litigation are "intuitively low", according to industry leaders...
  • US (re)insurer Travelers’ net income for the third quarter plummeted to $214mn compared to $1,198bn in the same period last year. Overall, underwriting losses were $208mn for the quarter compared to an underwriting profit of $520mn in the previous year.
  • The insurance linked securities (ILS) sector is a rare jewel that stands out from the credit market turmoil, according to market leaders speaking at Trading Risk's inaugural Executive Briefing event last month.
  • Bermudian reinsurer Everest Re has warned that its fourth quarter earnings will be hit by 2004’s catastrophe losses.
  • London managing general agency (MGA) Synergy Insurance Services has entered the high net worth (HNW) market with a product it says could cut premium layout for clients by up to 40 percent.
  • The shareholder vote by ACE Ltd to redomicile away from the Cayman Islands to Switzerland closes this week with preliminary results suggesting support for the move.