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  • Heritage Underwriting Agency Ltd became the latest specialist Lloyd's insurer to publish sparkling interim results with profits climbing by as much as 250 percent to £10.5mn for the first half of the year.
  • Former QBE Limit underwriter Mark Harrington is to head a new Lloyd’s composite syndicate with an expected capacity of £75mn for the 2008 year, The Insurance Insider can reveal.
  • A facultative reinsurance team from London Market broker SBJ Group Ltd may follow the heads of the GCFac team that defected to rival Integro Ltd, according to legal documents obtained by The Insurance Insider.
  • Liberty Mutual reported accelerating rate rises on its personal lines book but a loss of momentum in commercial lines and global specialty as it unveiled third quarter operating profits of $534mn, a 13.9 percent increase on the prior-year period.
  • Expansive legacy and services specialist Randall & Quilter (R&Q) unveiled another modest acquisition last week, with a EUR3.2mn deal to take over French reinsurer La Licorne Compagnie de Réassurances.
  • Rating Agency Fitch Ratings downgraded its financial strength rating on Employers Re to “AA-” last week, citing concerns over the reinsurer’s reserves.
  • The US property and casualty industry has made significant progress in funding its asbestos liabilities, according to rating agency AM Best.
  • BP Marsh, the financial services-focused venture capital firm, has banked £29.2mn from the sale of most of its stake in UK insurance broker Hyperion, it said today (22 August).
  • Towers Perrin has strengthened its reinsurance team with three key appointments in Bermuda and France.
  • Brit shareholders have been given a further fortnight to vote on the joint Apollo-CVC offer for the listed Lloyd's insurer first unveiled in late October.