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  • All eyes will be on Swiss Re tomorrow amid mounting speculation that the reinsurance giant is set to unveil significant third quarter impairments and drastic measures to ease liquidity pressures.
  • A survey by Towers Perrin has found that the process of integrating Enterprise Risk Management (ERM) into businesses is proving challenging, with significant work still required to utilise economic capital (EC) in decision making.
  • Lloyd's (re)insurer Advent Capital Holdings plc is optimistic about prospects for 2009 after a volatile first three quarters that have seen it just about break even for the year to 30 September 2008.
  • Looking for a winner amidst the torrid times? Step forward the shy and retiring figure of Prem Watsa, founding chairman of Canadian combine Fairfax Financial Holdings Ltd.
  • Expanding specialty insurer WR Berkley recruited AIG’s offshore energy president Frank Costa to head a start-up operation last week.
  • Newly Swiss-domiciled (re)insurer ACE Ltd has avoided the third quarter net losses posted by a number of its peers, but nevertheless saw its net income decimated by net realised investment losses and catastrophes as it plummeted 92 percent to $54mn.
  • Shares in Aon Corporation surged 11 percent Friday (31 October) after the broking giant posted better-than-expected third quarter profit from continuing operations, which rose 33 percent to 69 cents per share, and revenue 6 percent higher at $1.85bn.
  • Ahead of tomorrow’s US presidential elections frontrunner Democratic candidate Senator Barack Obama appears to be making inroads among professionals in the traditionally Republican-dominated insurance industry, according to a poll conducted by AM Best’s B
  • Swiss-domiciled reinsurer Paris Re has increased its loss estimate for Hurricane Ike to $130mn from an original figure of $75-$95mn reported in late September.
  • Senior executives at American International Group (AIG) subsidiary Lexington Insurance Company are in talks with a number of private equity firms over a possible management led buy-out of the leading US surplus lines insurer from its parent, The Insurance