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  • A US district judge has dismissed an investor lawsuit against reinsurance giant Swiss Re that accused it of being responsible for $1.1bn in losses from derivatives by failing to disclose risks.
  • Crawford marine hire; BMS in Philly; Fineos' London hire...
  • Ruxley Ventures, the UK-based specialist insurance investment boutique, has received the go-ahead from the Canadian regulator to transfer a legacy book to German run-off acquirer Global Re, The Insurance Insider can reveal.
  • The London market directors' and officers' (D&O) insurers that placed the coverage for Stanford Financial Group (SFG) and several of its executives are resisting paying a further $3.2mn in legal fees.
  • French investment bank Société Générale says its new contingent capital facility is a long-term solution rather than a response to insurers preparing for a possible market-turning large catastrophe.
  • Trading platform IFEX has cleared a $1mn hurricane futures contract for the 2011 season, highlighting early speculation on next year's windstorm activity.
  • Aon Consulting has completed its $4.9bn merger with global consultancy Hewitt Associates, which was first announced in July.
  • 3i-backed Hyperion Insurance Group is set to buy a majority stake in Asia's largest independent retail insurance broker, Accette Insurance Group, and will use the business as a base to deliver on its Asian ambitions.
  • London market (re)insurance broker BMS Associates has again struggled to deliver profit amid the soft market, eking out post-tax gains of just £6,000 last year, compared with £200,000 in 2008
  • London-headquartered independent broker UIB's post-tax profits were flat in 2009 at £1.33mn, despite softening rates and a £1.2mn negative foreign exchange swing, company accounts show.