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  • Hiscox Ltd, the UK quoted (re)insurance group, is building out its US operations with “10 key appointments” and plans to open four new offices in Lexington, Kansas City, Miami and Los Angeles next year.
  • Swiss Re has withdrawn from negotiations with private equity firm CVC Capital Partners over its proposed purchase of Royal Bank of Scotland's (RBS) insurance assets, The Insurance Insider can reveal.
  • American International Group (AIG) has moved onto the next phase of its revamped US government bail-out with the launch of a vehicle to take on multi-sector collateralised debt obligations (CDOs) underlying...
  • The European Union Council of Economic and Finance Ministers (ECOFIN) has approved a Solvency II directive in which all reference to group support and group supervision has been cut...
  • Aon Corp has formed a new unit – Aon Specialty – to marry its large global specialty operations with Benfield Corporate Risks (BCR) in the wake of the Chicago-headquartered broking giant's $1.43bn takeover of Benfield Group.
  • Liberty Mutual Group of Insurance Companies has unveiled a string of management changes due to take effect in January 2009 in a reshuffle involving three of the company’s four business divisions.
  • London market broker Howden, a subsidiary of private-equity backed Hyperion Insurance Group, agreed the transfer of Benfield Corporate Risk’s (BCR) John Plummer-led US wholesale property and casualty team, as predicted by The Insurance Insider.
  • As the market is poised for an updated industry loss estimate for Hurricane Ike from Property Claims Service (PCS) this week, Bermudian reinsurer PartnerRe Ltd has increased its own pre-tax figure to $305mn.
  • International insurer AXA felt the strain of difficult global equity markets last week as it was forced to abandon its ‘Ambition 2012’ long-term growth target aimed at trebling underlying earnings per share between 2004 and 2012.
  • BMS Group has reached a settlement with former senior employees and rival London market broker CJ Coleman (CJC) over claims of conspiracy and gross breach of duty that were being heard in the UK High Court last month, The Insurance Insider can reveal.