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  • Hector Sants revealed he would stand down as CEO of UK regulator the Financial Services Authority (FSA) last week.
  • A US judge has dismissed several of the claims made by American International Group (AIG) in its attempt to wrest control of a block of its shares from its former CEO and chairman.
  • The departure of a group of senior executives from the property division of Heritage Underwriting Agency plc will be seen as a major blow to Argonaut Group International Holdings, which bought the Lloyd’s insurer earlier this year.
  • The scale of the UK’s flood damage is now likely to cost the insurance industry more than £1.5bn, according to the Association of British Insurers (ABI).
  • Directors’ and officers’ (D&O) rates for financial institutions have surged as the impact of the sub-prime crisis takes grip, according to new research.
  • The introduction of the European Union (EU) Solvency II directive in 2010 will have little immediate impact on credit ratings of European insurers but many fuel merger and acquisition (M&A) activity, according to a report by Fitch Ratings.
  • Venture capital firm 3i has acquired a stake in the UK-headquartered broking firm Hyperion Insurance Group Ltd, The Insurance Insider can reveal.
  • Bermuda's Endurance Specialty Holdings Ltd reported net profits of $135.5mn for the second quarter, more than doubling the $64.1mn it posted in the prior-year period as it continued its drive in specialty business.
  • Marsh & McLennan Companies Inc (MMC) has confirmed that at least 2,000 jobs will be cut in 2008 after announcing a further 900 positions will be axed.
  • Shareholder backed Brit the only bidder after breaking PRI board’s resolve The board of UK insurer PRI finally succumbed to the weight of Brit pressure on 17 April when it agreed to recommend the insurer’s all share offer to its shareholders. Approval