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  • German reinsurance giant Munich Re will realise a gain of approximately EUR107mn in the second quarter after shedding 4.9 percent of its 15.1 percent stake in Cardiff-based Admiral Group.
  • Reinsurance broker JLT Re has taken advantage of talent leaving the recently formed broking giant Aon Benfield by appointing two senior executives to bolster its New York and Chicago operations.
  • American International Group (AIG) has moved to calm the choppy waters around the unwinding of its doomed financial products business (AIGFP) by persuading a senior executive at the division to reverse his resignation in order to avert potential legal act
  • Bermudian reinsurer Max Capital has labelled a legal challenge to its merger agreement with IPC Holdings "meritless" and "nothing more than another attempt by Validus to distract investors".
  • Julian Enoizi, the former head of CNA's European operations, is to become the new chief executive of Argo Group's Lloyd’s insurer, Heritage Managing Agency Ltd.
  • European reinsurer Scor said first quarter profit declined 30 percent to EUR93mn, as investment writedowns combined with the impact of European Windstorm Klaus.
  • Lloyd's property cat (re)insurer Advent turned a Q1 2008 after tax loss of £4mn into a £1.3mn profit for the first quarter of 2009, as it demonstrated a significantly improved combined ratio and a 40.8 percent hike in gross premiums written, partly as a r
  • Novae Group - the Lloyd's insurer which withdrew from merger discussions with rival Chaucer Insurance Holdings earlier this year - increased its revenues by almost a third, posted another impressive return from investments and said it was enjoying rate ri
  • XL Capital saw revenues fall sharply and its earnings dented in the first quarter, but said a "back to basics" approach was beginning to pay dividends with a healthy 93 percent combined ratio in its core property and casualty (P&C) operations.
  • The strong dollar has hit Aon's first quarter, with broking revenues down 1 percent at $1.55bn, despite strong growth in reinsurance income from its newly acquired Benfield Group.