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  • Lloyd’s listed specialist underwriter Hardy Underwriting Group plc announced lower profits last Thursday (24 March) in line with its profits warning earlier in the month (Insider Week No 163), as windstorm losses and a potentially material financial insti
  • A reversal of the catastrophe climate year on year and a swing to favourable reserve developments was not enough to push Argo to an underwriting profit, with only investment income and gains helping the firm into the black for the first quarter.
  • The industry's potential exposure to political risk/trade credit losses emanating from the global economic downturn in 2008-09 was hinted at by Beazley today.
  • QBE Insurance (Europe) has launched a new professional indemnity division after merging its portfolio with that of DA Constable Syndicate 386.
  • Andrew Goodsell, the former Merrett underwriter, will receive £104mn from the merger of the AA and Saga to create a £6bn motoring and insurance giant.
  • Lloyd's (re)insurer Novae has secured High Court approval to fold its UK insurance company business into Syndicate 2007, potentially releasing up to £60mn in under-deployed capital.
  • Staff shareholders in technology firm Ri3k are to receive just £0.00002 per share from successful bidder Qatarlyst - leaving founding CEO Alex Letts with a payout of just under £40 for his stake in the firm.
  • (Re)insurance group Alterra has announced it has amalgamated its Bermuda subsidiaries, Alterra Insurance and Harbor Point Re, continuing the merger process that began in May when Max Capital and Harbor Point came together to form the new group.
  • Lloyd's (re)insurer Novae has secured High Court approval to fold its UK insurance company business into Syndicate 2007, potentially releasing up to £60mn in under-deployed capital.
  • Kiln Group chief operating officer Marion Madden has resigned from the Lloyd’s (re)insurer, The Insurance Insider can reveal.