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  • Yorkshire-based consolidator Broker Network Group has received a takeover approach which "may or may not lead to an offer being made for the company", according to a recent London Stock Exchange announcement.
  • French reinsurer Scor's financial strength has not been affected by the current economic turmoil, said ratings agency Fitch, as it maintained financial strength and debt ratings at A.
  • Bond insurer FGIC Corp has told regulators it wants to break into two in a bid to save its credit rating, according to a New York Insurance Department spokesman.
  • Typhoon Fitow, this year’s ninth named storm in the western Pacific, made landfall in Kanagawa state southwest of Tokyo on 7 September, with maximum sustained winds of 86 mph.
  • Bermudian ACE Ltd became the latest (re)insurer to benefit from an unexpectedly benign catastrophe environment as it revealed record 2006 operating income of $2.35bn.
  • Paul Milton, the chairman of Aon Professional Risks (APR), is set to retire from the organisation as Aon restructures the division’s reporting structures.
  • The world's largest interbroker-dealer ICAP plc and insurance broker JLT Group plc have launched their joint venture to establish an insurance based derivatives and securities broking platform, subject to FSA approval.
  • The Association of British Insurers (ABI) has said the cost of the recent UK floods is expected to reach £1bn, double the £500mn estimated by modeller Risk Management Services (RMS) last week.
  • At the end of last month, Leucadia National announced a definitive agreement to acquire Reliance Group, the over-leveraged and questionably-reserved insurance holding company, in a bargain-basement stock transaction at a price approximating $2.55 per shar
  • Heritage Underwriting Agency Ltd has become the latest specialist Lloyd’s insurer to publish sparkling interim results with profits climbing by as much as 250 percent to £10.5mn for the first half of the year.