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  • The president and COO of US-based independent retail insurance brokerage Frank Crystal & Company has left the firm, The Insurance Insider has learned.
  • Morgan Stanley and UBS are joint advisors for the Royal Bank of Scotland (RBS)'s restructuring plan, which includes the shedding of its European P&C insurance operations, RBS Insurance (RBSI).
  • Swiss Re CFO George Quinn has underlined the reinsurer's priorities: first secure a return to the Standard & Poor's (S&P) AA rating level it lost in February and then strive to redeem the Berkshire Hathaway investment.
  • Shares in Swiss Re climbed this morning after analyst-beating third quarter net profits helped further boost its capital base and it continues on the recovery path to paying back its Berkshire Hathaway capital injection.
  • Last week's annual reinsurance meeting in Baden Baden saw the industry focus on fundamental issues as it looks ahead into 2010...
  • As the insurance and reinsurance industry set up camp on both sides of the Atlantic last week to draw battle lines ahead of the 1/1 renewals, a central talking point at both events was the elusive hard market.
  • Bermudian (re)insurer Endurance has inverted last year's third quarter net loss of $99.4mn and reported net income of $153.8mn for Q3 2009.
  • Private equity-backed insurer Torus is experiencing rapid growth in its casualty profile and is expected to post a modest pre-tax profit for 2009.
  • Bermudian (re)insurance group White Mountains saw its Q3 income swing into the black, as the investment markdowns seen during the same quarter of 2008 were dramatically reversed, with loss costs reduced markedly.
  • The departure of Heath Lambert managing director Mike Bruce after 11 years with the company has left both an open position and questions over the future of his significant shareholding in the privately owned UK broker.