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  • US commercial property and casualty (P&C) (re)insurers returned to loss in 2008 and there is little sign of an immediate turn back to profitability, according to Fitch Ratings.
  • Catlin Group Ltd is looking for a new chief financial officer after confirming last week that Chris Stooke will leave later this year.
  • The Air France Flight 447 loss, in which all 228 on board are feared dead, is set to exceed the $600mn cost of the American Airlines flight that came down in New York...
  • ICAT Holdings – which underwrites at Lloyd's through its Chaucer-managed Syndicate 4242 – has sold its US subsidiary ICAT Specialty Insurance Co (ISIC) to Universal North America.
  • Concerns over the Japanese economy and the impact of slumping equities on balance sheets has provoked Fitch Ratings to downgrade four Japanese non-life insurers.
  • UK listed run-off group Randall & Quilter (R&Q) trumped rival LCL Group - the legacy subsidiary of Charles Taylor Consulting - to secure the captive insurance company of the failed UK retailer Woolworths Group.
  • Ariel Re made a modest loss of $29mn in 2008, as $80mn in unrealised investment losses and $225.9mn in net losses from hurricanes pushed the class of 2005 (re)insurer into the red for the year.
  • Three bidders in the auction for the non-life reinsurance portfolio of Berlin-based run-off group BF Rückversicherung have been shortlisted, The Insurance Insider can reveal.
  • Shares in The Hartford fell 8 percent late last week after the distressed US insurance group surprised investors with plans to raise up to $750mn by selling common stock.
  • Guy Carpenter has continued to capitalise on the fallout from the Aon Benfield tie-up last year by luring members of the firm's Central and Eastern European team, The Insurance Insider can reveal.