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  • Standard & Poor's (S&P) has offered a vote of confidence to Hannover Re CEO Ulrich Wallin as he moves towards the end of his first year in the job by removing the company from negative watch.
  • Hampden Underwriting swung to a pre-tax profit of £985,000 in 2009 from a loss of £85,000 a year earlier, as it shrugged off start-up costs and began to enjoy positive cash flow from its acquisition of 2006 and 2007 year underwriting capacity.
  • WR Berkley has taken further steps to build its Lloyd's platform by appointing Louise Nevill to set up the marine division of Syndicate 1967, The Insurance Insider can reveal.
  • New York-listed insurers' share prices took a hammering yesterday (20 May), as fears about contagion in the Eurozone grew and investors took fright at the prospect of the Senate approving a sweeping financial reform bill.
  • Trade credit specialist Coface looks to have recovered in the first quarter, as its insurance segment produced a net profit for the first time since the onset of the global recession.
  • The Conservative Party has abandoned immediate plans to abolish the UK regulator the Financial Services Authority (FSA) as a concession to its coalition partners the Liberal Democrats.
  • The new UK Chancellor George Osborne last night hinted that the coalition government would not dampen the Conservatives' commitment to scrutinise a tax policy paper prepared by The Insurance Insider's London 100 group.
  • The fine art insurance market has been spared a potential EUR500mn mega-loss after the audacious theft of five masterpieces from the Museum of Modern Art in Paris last night (19 May), The Insurance Insider understands.
  • As concern about contagion from the financial crises in the Eurozone grows, the German financial regulator has banned naked short selling of stocks in key financial services companies including Munich Re and Hannover Re.
  • The European Union has expressed strong opposition to "anti-competitive" US tax proposals, which it says could result in the withdrawal of non-US operators from the US reinsurance market.