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  • Improved underwriting profit drove a 20 percent increase in third quarter net earnings to $562.4mn for Canadian investment conglomerate Fairfax Financial Holdings, compared to $467.6mn during the same period in 2008.
  • Broker Aon has called for P&I (protection and indemnity) clubs to remove war risks exclusions to allow shipowners greater certainty over coverage should they be subjected to piracy attacks.
  • Moody's once again turned its attention to the financial guaranty sector this week as it placed the ratings of Assured Guaranty and the company it is on the verge of buying, Financial Security Assurance (FSA), under review for possible downgrades.
  • The Financial Services Authority (FSA), the UK regulatory body, has approved the sale of run-off (re)insurer Chevanstell to an investor group little more than two months after the deal was first announced.
  • Lloyd’s insurer GoshawK believes the demise of the UK personal injury firm The Accident Group (TAG) will have little impact on its earnings. According to a company spokesman, GoshawK was one of a number of London market insurers to provide After the Ev
  • Expansive Lloyd's insurers RJ Kiln and WR Berkley have confirmed increases in capacity for the 2010 year of account.
  • Provisional liquidator Grant Thornton last month announced creditor approval for its proposed UIC Insurance Company Limited scheme of arrangement that looks set to boast the rare distinction of paying out more than 100p in the £1.
  • Veteran class action lawyer Bill Lerach, who represented Enron investors and other shareholders suing large corporations, faces up to two years jail and will be forced to pay $8mn in fines after pleading guilty...
  • Lloyd's insurer Illium Managing Agency Ltd is to apply to launch a wholly aligned syndicate to write business on behalf of parent HCC Insurance Holdings, Inc.
  • The money collected by PricewaterhouseCoopers (PwC), the administrators of the defunct UK insurer Folksam UK, outweighs the collections made on behalf of creditors by almost £2.5mn, the latest report to creditors reveals.