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  • Standard & Poor's (S&P) has revised its outlook on the ratings of global insurer Zurich from stable to positive to reflect increased confidence in the firm's credit strengths, the ratings agency said yesterday (1 October).
  • CNA's Lloyd's insurer Hardy Underwriting has experienced a series of high-level defections in the same week as a major restructuring that sees employment contracts switch to the US insurance group under transfer of undertakings (Tupe) provisions.
  • Ascot and American International Group (AIG) have unveiled the launch of AIG-Ascot Re, a reinsurance platform that will run out of Bermuda. Normal 0 false false
  • If the UK government does not sufficiently strengthen flood defences, state-backed reinsurance fund Flood Re could ultimately increase the net exposure of UK retail insurers to the peril, ratings agency Standard & Poor's (S&P) said in a report today (1 October).
  • Tokio Marine-owned global reinsurer Tokio Millennium Re has announced a major shake-up of its senior management team, with Stephan Ruoff set to assume the CEO role, the carrier announced today (1 October).
  • AmTrust has completed its cash acquisition of Florida-based workers' compensation insurer Comp Options, the carrier announced today (1 October).
  • Sompo Japan Nipponkoa Holdings' Lloyd's (re)insurance platform Canopius has hired Tony Harris and Martin Cardus to develop its UK marine and pleasurecraft business.
  • Cooper Gay Swett and Crawford has appointed Karen Lieu, Willis's former head of global solutions for Asia, as managing director of its Hong Kong business, the broker announced today (1 October).
  • Expansive private equity-backed US broker Risk Strategies has acquired entertainment and fine arts intermediary DeWitt Stern.
  • The US Federal Reserve Board (FRB) has begun a quantitative impact study (QIS) to evaluate the potential impact of its revised regulatory capital framework for insurers, the organisation said yesterday (30 September).