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  • London-listed Lloyd's carrier Beazley today (8 May) reported a slight drop in premium income during the first quarter, but said rates had remained flat overall despite mounting competitive pressure.
  • Insurers will not be affected by draconian new EU legislation that restricts the cash element of bankers' bonuses to 30 percent of their salary, according to the Financial Services Authority (FSA)'s new remuneration code.
  • Catastrophe losses and lower year-on-year reserve releases helped cut Aspen Insurance Holdings Limited's second quarter net income in half to $40.1m.
  • Bermudian-headquartered (re)insurer, AXIS Capital Holdings Ltd, reported a 19 percent increase in operating income for the third quarter of 2007, capping eight straight quarters of "record profitability", according to its president and CEO, John Charman.
  • ICAT Holdings – which underwrites at Lloyd's through its Chaucer-managed Syndicate 4242 – has sold its US subsidiary ICAT Specialty Insurance Co (ISIC) to Universal North America.
  • June has become a fertile month for catastrophe bonds with at least three $100mn+ contracts either signed or close to fruition.
  • Shares decline as H1 profit slump unveiled: London-listed (re)insurer Alea Group meets with rating agency Standard & Poor’s (S&P) this week in an attempt to defray a threatened downgrade following the group’s disappointing interim results last week.
  • Integro Ltd has hired well-known broking figure Guy Bessis from Aon as a managing principal in its London operation.
  • If its proposed acquisition of GE Insurance Solutions concludes without a hitch next summer, Swiss Re will be able to proclaim itself as the biggest reinsurer on the planet, leapfrogging its rival, Munich Re. Based on 2005 estimates, the combined...
  • Argo Group's excess and surplus lines (E&S) president Lou Levinson has resigned from the Bermudian (re)insurer, The Insurance Insider has learned.