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  • Australian (re)insurance group QBE is raising almost $1.4bn to fund an ambitious expansion drive which will see it purchase US underwriting agency ZCS for $575mn, continuing its recent US growth.
  • London-based captives and mutual manager Heritage has received the green light to establish Heritage Insurance Management (Bahrain) WLL (HIMB) on the Persian Gulf island kingdom Bahrain.
  • Fabrice Desnos, CEO of Credit insurance specialist Euler Hermes UK has told The Insurance Insider that an increasing number of risks “have become uninsurable in the strictest sense” and underwriters are having to be more selective about the risks they wri
  • Bermudian (re)insurer ACE Ltd has launched a Swiss-based insurance company, ACE Insurance (Switzerland) Ltd, to write (re)insurance business for ACE Europe’s Zurich branch established in 2003.
  • Troubled insurance giant American International Group announced on 25 November that it had completed a $40bn preferred stock sale to the US Department of Treasury...
  • Ratings agency Standard & Poor’s (S&P) has upgraded Hiscox Group’s UK non-life insurance subsidiary Hiscox Insurance Co Ltd to A with a stable outlook, on the back of strong operating performance.
  • Patrick Holcroft, the chief executive of private equity backed London market broker RFIB Group, is to step down, The Insurance Insider can reveal.
  • Amlin plc is raising capital to form a new quota share syndicate for 2009 financed by Lloyd’s Names to take advantage of the improving market conditions, The Insurance Insider revealed on 28 November.
  • Aon Corporation completed its takeover of Benfield Group on 28 November to establish the world’s largest reinsurance broker under the joint brand Aon Benfield, headed by CEO Andrew Appel and executive chairman Michael O’Halleran.
  • French-headquartered reinsurer SCOR has deposited an application request for a composite subsidiary in Russia; a move which cements its life and non-life presence in the region.