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  • Hannover Re has become the latest (re)insurer to slip to a third quarter net loss under the weight of heavy catastrophe claims and investment write-downs.
  • Independent reinsurance broker RK Carvill is separating its underwriting and broking businesses in a corporate restructure that will result in “material” redundancies, The Insurance Insider can reveal.
  • Swiss Re has become the latest reinsurer to slump to a third quarter deficit, as it booked a SFr304mn net loss for the period, driven by a SFr614mn operating loss in its life and health business.
  • Flagstone Reinsurance Holdings Limited has revealed a Q3 2008 net loss of $186.5mn, compared to net income of $66.2mn for the same quarter a year earlier as investment and catastrophe losses weighed heavily.
  • US insurer the Hartford Financial Services Group saw its battered share price rally 57.75 percent to $16.28 at market close yesterday (3 November), after it sought to clarify its capital position in a Securities and Exchange Commission (SEC) filing.
  • French reinsurance giant SCOR has announced the establishment of SCOR Global Investments, a new “dedicated investment management company” which will be responsible for managing the group’s global investment portfolio...
  • Christopher Droney, the federal judge who oversaw the trial of five former General Re and American International Group (AIG) executives, has ruled that their conspiracy led to huge losses for investors.
  • London market broker THB Group's long-standing chairman and founder Vic Thompson is to retire from the company on 30 April.
  • Lloyd’s insurers Hardy Ltd and Novae revealed their estimates of the financial impact of US hurricanes Gustav and Ike on 28 October, as the cost of the storms continues to mount.
  • It's not often that brokers find themselves praising their IT providers but that is exactly what occurred with Willis Group this week.