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  • Aspen Insurance Holdings has reported a 36 percent drop in third quarter net income to $92.8mn, with market conditions described by CEO Chris O'Kane as "highly challenging".
  • Willis Re is losing Colin Kiddie from its London operations to Guy Carpenter only a week after naming the executive as the new head of its specialty business, The Insurance Insider can reveal
  • US insurance giant Allstate has booked lower profits than anticipated by analysts, following a $70mn pay-out to settle litigation over the third quarter.
  • Allied World Assurance Company has lured senior Platinum Underwriters Reinsurance executive Kevin Marine to join its US reinsurance platform, The Insurance Insider can reveal.
  • American International Group (AIG) chairman Steve Miller will act as interim CEO in the event that president and CEO Bob Benmosche needs to step down due to his fight with cancer.
  • Global specialty insurer Ace booked a 37 percent year-on-year increase in third quarter net income to $675mn, amid a reduction in cat activity and investment write-downs.
  • French insurer Axa has reported a 0.7 percent lift in property and casualty (P&C) insurance revenues to EUR21.4mn for the first nine months of 2010, with growth in personal lines offsetting a decline in commercial business.
  • Willis Group achieved 4 percent organic growth in the third quarter as increases in new business and client retention countered adverse soft market conditions.
  • Bermudian (re)insurer RenaissanceRe's third quarter net income dropped 21 percent year-on-year to $204.8mn, with the fall attributed primarily to a $73.6mn hit from the New Zealand earthquake.
  • Surinder Beerh has resigned as head of Colemont's London market and international operations six months after its parent company merged with US wholesaler AmWINS.