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  • Spanish (re)insurer Mapfre reported a 5.2 percent slide in year-on-year net profits for the first nine months of 2010 to EUR704.5mn, although revenues grew over the period by 9.2 percent to EUR15.7bn ($21.7bn).
  • AIG backed ruling finds INA liable for Brandywine exposures, ACE to appeal The spectre of asbestos legacy issues hangs over Bermudian-based giant ACE Ltd, with the (re)insurer’s defeat in a landmark case involving Brandywine and ACE INA, inherited with
  • Run-off specialist Ruxley Ventures has received approval from the UK High Court of Justice to transfer the assets and liabilities of Aviation & General Insurance Company to a subsidiary of Berkshire Hathaway.
  • DUAL International, the fast-expanding financial and professional lines underwriting agency, is to part company with its chief executive James Gerry following his resignation, The Insurance Insider understands.
  • UK regulator the Financial Services Authority (FSA) has fined Lloyd’s broker Besso £20,000 for failure to apply for approval of a member of its management who had previous fraud convictions and is alleged to have gone on to commit fraud whilst at the firm
  • One of the more intriguing elements to Aon's takeover of reinsurance rival Benfield Group is the respective firms' facultative reinsurance operations.
  • As the London market continues to debate the extent and cost of services brokers perform on behalf of subscription market insurers, broking giant Aon has been applauded for backing new underwriting slips which record in greater detail the levels of commis
  • Audley Gilroy-controlled legacy (re)insurer Grafton has completed a transfer for UK supermarket giant WM Morrison PLC’s captive run-off liabilities – a deal which sources suggest represents ‘tens of millions’ in liabilities. 
  • Berkshire Hathaway has had its counterparty credit rating downgraded by Standard & Poor's (S&P) from AA+ to AA with a negative outlook on all the group's ratings - including financial strength - partly due to capital adequacy questions.
  • GoshawK's Syndicate 102 has been placed in run-off following discussions with Lloyd's and the Financial Services Authority.