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  • UK insurance buyers group the Association of Insurance and Risk Managers (AIRMIC) has made a submission to the EU Commission supporting continuation of the block exemption.
  • Chinese insurer Ping An Insurance reported a 2 percent drop in its half-year profits with a rise in premium offset by a decline in its investment income as the company warned of possible further credit crunch-related losses.
  • Benfield Group Ltd received a boost last week after Merrill Lynch upgraded the stock to "Buy" following its solid first-half year results.
  • Lloyd's insurer Hiscox Ltd has posted a rise in pre-tax profits with reserve releases, a solid investment performance and strong underwriting returns defying the gloom of the soft market and credit crunch.
  • RSA Insurance Group plc shares have closed the week up at 145p on the London Stock Exchange following fresh speculation over a possible imminent bid.
  • Benfield Group Ltd received a boost yesterday (13 August) after Merrill Lynch upgraded the stock to "buy" following its solid first-half year results.
  • Ratings agency Standard & Poor's (S&P) revised its outlook for the US commercial lines and property & casualty sector to negative yesterday on the back of continued price softening and declining investment returns.
  • Zurich Financial Services has announced net profits of $2.7bn and a combined ratio of 96.2 percent for the first half of the year, but only after making higher than expected reserve releases of $609mn.
  • Aon Re Global has announced the appointment of former Guy Carpenter MD and deputy head of its international department Christer Pehrson as executive director.
  • Catastrophe modelling firm Risk Management Solutions (RMS) has upgraded its UK Inland Flood Model after last year's heavy floods.