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  • Former CEO of Lloyd’s, Nick Prettejohn, has been appointed to the board of UK life insurer Legal & General (L&G). After his 10-year association with Lime Street, Prettejohn replaced Mark Wood as chief executive of Prudential’s UK insurance operations in October 2005.
  • Jim Summers, CEO of Cooper Gay's UK business and a member of the group executive committee, has resigned with immediate effect.
  • Xchanging, the back office provider for the London market, has recruited Zurich Financial Services (ZFS) executive Jane Tutoki to the new role of global head of claims management services.
  • Argo performed well ahead of consensus analyst forecasts despite posting a 17 percent fall in Q3 profits to $23mn, as investment performance improved significantly.
  • Bermudians Alterra Capital and Montpelier Re have both reported solid Q3 profits and increases in the writings of their Lloyd's operations.
  • The recovery powers of XL Capital were amply demonstrated as the Bermuda-headquartered (re)insurer reported a return to share buybacks and authorised a new $1bn repurchase programme.
  • American Financial Group suffered a setback in its recovery from writing toxic Italian medical malpractice business, as it added an additional $39mn to its loss reserves, dragging the group's specialty casualty unit to a third quarter loss.
  • The Bermuda operation of Lloyd's (re)insurer Hiscox is the latest to secure approval from the Florida regulator to cut its collateral requirements back from 100 percent to 20 percent.
  • French insurer Axa's latest cat bond, Calypso Capital, has closed at almost double initial targets, offering EUR275mn of European wind exposure to insurance-linked securities (ILS) investors.
  • Luxembourg-domiciled Flagstone Re bucked analyst expectations of a Q3 loss and a $52.5mn net loss from the Christchurch earthquake to book profits of $37.3mn for the period.