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  • Everest Re has signed up to Xchanging's suite of (re)insurance software, Xuber, becoming the unit's first "competitive win in the USA".
  • Third Point Re reported an 18 percent increase in its third quarter profit thanks to a strong investment performance from Third Point LLC, the Dan Loeb-founded hedge fund that owns a stake in the reinsurer and manages its assets.
  • Two years have passed since the last International Underwriting Association (IUA) review published by The Insurance Insider and one thing at least has changed - the size of the London company market itself
  • Barbican has promoted David Booth, its head of marine, aviation and transport, to the position of active underwriter on its Lloyd's Syndicate 1955, with Mark Harrington reverting to the role of chief underwriting officer.
  • The insider trading plea deal that SAC Capital Advisors agreed with federal prosecutors last week is expected to hasten the sales process for the stake the beleaguered hedge fund holds in the Bermudian reinsurer it founded.
  • Weekly share price movements in The Insurance Insider's universe of P&C (re)insurers and brokers
  • Swiss Re's Admin Re unit, which specialises in running off closed life books, has reported net income of $151mn for the third quarter, generating $85mn of gross cash for the group.
  • Argo Group's run-off segment fell to a third quarter loss after it was hit by adverse development on asbestos and medical malpractice claims as well as a late Hurricane Katrina claim.
  • Run-off specialist Enstar reported lower earnings in the third quarter as its bottom line was dented by the change in its business profile as well as costs linked to its $252mn SeaBright acquisition.
  • American International Group (AIG) has settled out of court with the former president of its real estate investment arm for an undisclosed sum ahead of a $274mn trial over allegedly withheld compensation during the financial crisis.