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  • AM Best gave a fillip to XL Capital last week after it affirmed the (re)insurer's ratings and removed them from under review following the firm's completion of its deal to divorce itself from its former bond insurance arm Security Capital Assurance (SCA).
  • William Stovin has replaced the US-bound Gerry Albanese as president and COO of Markel Corporation’s London subsidiary Markel International.
  • Bermudian CastlePoint Reinsurance Company Ltd has agreed a $135mn deal to buy US excess and surplus (E&S) lines and admitted insurer Hermitage Insurance Group.
  • SCOR reported a 24.3 percent rise in half-year net profits as last year's Converium acquisition continues to fuel the reinsurer's results.
  • Ratings agency Moody's Investors Services said it would be assessing the impact on the credit profiles of FGIC Corp and MBIA Insurance Corporation following their $184bn reinsurance coverage deal.
  • In common with many (re)insurers, Brit Insurance Holdings plc saw its 2008 interim profits suffer as a result of unrealised losses on its investment portfolio, partly offset by reserve releases and a foreign exchange profit.
  • UK insurer Liverpool Victoria Insurance Company Ltd (LV) has emerged as the bidder for UK motor insurer Highway Insurance Group plc.
  • Hurricane Gustav caused a flurry of trading on the Insurance Futures Exchange Services (IFEX) last week as a tropical storm, with $13mn of catastrophe derivative contracts traded as the storm gathered speed en route to the Gulf.
  • William Stovin has been appointed as president and COO of Markel Corporation's London subsidiary Markel International, replacing US-bound Gerry Albanese.
  • Canadian (re)insurance conglomerate Fairfax Financial Holdings has declared its 165p a share cash offer for Lloyd’s (re)insurer Advent Capital Holdings Plc unconditional after securing a controlling interest in the company, as the Advent board reiterated