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  • Xchanging, the back office provider to the London market, said its 2008 insurance revenues and profits were flat as greater process efficiencies were largely absorbed by one-off investments and the loss of some business support income.
  • The Royal Bank of Scotland's (RBS) general insurance business (RBSI) produced record operating profits of £780mn in 2008, justifying its decision to rule out a sale of the well-regarded unit after a lengthy auction process failed to elicit a knockout bid.
  • Hardy Underwriting has become the latest Lloyd’s insurer to undertake capital raising measures with a £40.3mn placing and open offer it says will allow it to take advantage of opportunities from improving market conditions, as it prepares to underwrite th
  • Those making the annual pilgrimage to the Berkshire Hathaway website for chairman Warren Buffett's letter to his shareholders were treated to a vintage exhibition of Buffettology, as the sage of Omaha warned against the "extraordinary" rush out of corpora
  • Guy Carpenter has agreed a deal to buy its smaller rival reinsurance broker John B. Collins (Collins).
  • "AIG is executing one of the most extensive corporate restructuring programmes in history at a time when the global economy and capital markets are in turmoil."
  • The US government has once again come to the rescue of American International Group (AIG) with a fresh $30bn lifeline for the ailing insurance giant as part of a package that includes spinning off part of its property and casualty business in an IPO.
  • 2008 was the worst year in Berkshire Hathaway’s 44-year history with the investment powerhouse recording an $11.5bn fall in net worth as its stakes in sectors as diverse as finance, retail, manufacturing and energy were all badly hit.
  • An "obsession with solvency" among US state regulators has led the insurance industry to fare the best in the recent financial debacle, according to Eric Dinallo, superintendent of the New York insurance department.
  • 2008 was the worst year in Berkshire Hathaway's 44-year history with the investment powerhouse recording an $11.5bn fall in net worth as its stakes in sectors as diverse as finance, retail, manufacturing and energy were all badly hit.