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  • The Lloyd's market has agreed a new three-year contract with the outsourcing firm Xchanging to provide technical and processing services to underwriters at a time of significant flux within the claims processing back office of the 326 year-old market.
  • Credit rating agency Fitch has upgraded Spanish insurer Mapfre's Insurer Financial Strength (IFS) rating from BBB+ to A- with a stable outlook, following its upgrade of Spain's sovereign long-term Issuer Default Rating (IDR) to BBB+ from BBB.
  • London-listed international (re)insurance broker Jardine Lloyd Thompson (JLT) has said that it continued to achieve "satisfactory organic growth" at its risk and insurance businesses during the first four months of 2014, despite the headwinds of softening rates and currency translation effects.
  • Shares in US insurance group CNA Financial closed down 7 percent yesterday (28 April) as investors expressed disappointment following disclosure of worse-than-expected first quarter results.
  • UK broker trade body the British Insurance Brokers' Association (Biba) has launched a new international and wholesale brokers' advisory board to be led by Julie Page, UK CEO of the consumer & commercial practice at Marsh, as chairman.
  • US-headquartered international broker Integro has acquired UK niche regional broker Richard Thacker & Company. The terms of the deal were not disclosed.
  • Q-Re, the reinsurance arm of parent Qatar Insurance Company (QIC) has rebranded to call itself Qatar Reinsurance Company and will now trade as Qatar Re, the firm announced today (29 April).
  • Kathleen Reardon has been named CEO of Bermudian class 4 property casualty reinsurer Hamilton Re.
  • The Hartford beat Wall Street first quarter earnings forecasts but the performance was largely overshadowed by news earlier in the day that the US insurer had agreed a deal to sell its Japanese operations at a loss.
  • PartnerRe reported first quarter operating earnings of $176.9mn, or $3.36 a share that were down on the $202.1mn, or $3.39 a share generated in the prior-year period, but well ahead of Wall Street consensus forecasts of $2.50 a share.