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  • Hannover Re has received its second ratings boost this year as AM Best upgraded its issue credit rating from A to A+ and affirmed its A financial strength ratings with a positive outlook.
  • Willis Group Holdings has announced the appointment of Gary Schmalzriedt as the chairman of its reinsurance brokerage, Willis Re.
  • Swiss Re shares fell to a 52-week low of SFr56.50 on the announcement of a $9.6bn exposure to the debt of US mortgage financiers Freddie Mac and Fannie Mae today (16 July).
  • American International Group (AIG) was among a number of financial companies in the US to be hit by fresh concerns over financial health, in a tough day of trading for the international equity markets.
  • London market independent (re)insurance broker Cooper Gay & Co Ltd is in talks with Xchanging over a deal to outsource a number of business back office functions, The Insurance Insider can reveal.
  • UK motor underwriters were buoyed by the news that average premiums increased in the second quarter after reporting falling rates for the first quarter, according to the AA's Insurance Index.
  • Broking giant Marsh has parted company with Artur Niemczewski, CEO of its UK multinational division, The Insurance Insider can reveal.
  • American International Group (AIG) has bought out management and staff in Ascot Underwriting Holdings Ltd as its Lloyd’s arm becomes a 100 percent owned subsidiary.
  • A united response from broker trade bodies to a discussion paper from the Financial Services Authority (FSA) mooting mandatory commission disclosure is likely to be published in September, according to the Lloyd's Market Insurance Broker Committee (LMBC).
  • PartnerRe Ltd has become the latest reinsurer to enter the newly-deregulated Brazilian reinsurance market after receiving approval from the market regulator, SUSEP.