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  • In common with many (re)insurers reporting half-year figures, Brit Insurance Holdings plc saw profits suffer as a result of unrealised losses on its investment portfolio, partly offset by reserve releases and a foreign exchange profit.
  • Bermudian CastlePoint Reinsurance Company Ltd has agreed a $135mn deal to buy US excess and surplus (E&S) lines and admitted insurer Hermitage Insurance Group.
  • SCOR has reported a 24.3 percent rise in half-year net profits as last year's Converium acquisition continues to fuel the reinsurer's results.
  • Paul Lumbis, the former managing director at Guy Carpenter & Co Ltd's M&A division at GC Securities Ltd is to head a new corporate finance advisory practice Atlas Partners LLP.
  • AM Best has become the latest ratings agency to affirm XL Capital ratings and remove them from review after the Bermudian reinsurer closed a deal to end the majority of its exposure to former bond insurance arm Security Capital Assurance (SCA).
  • Dear friend, A quick explanation – and the repayment of a debt of honour for the inspiration for IQ summer 2009's front cover.
  • Swiss Re has hired Alabama insurance commissioner Walter Bell as chairman of its US operations, Swiss Re America Holding Corporation.
  • The head of Marsh's global industry practices, James Enelow, is to leave the broker as the company continues with its restructuring plans, The Insurance Insider revealed earlier this week.
  • SCOR has had its Insurer Financial Strength (IFS) rating upgraded a notch to A by Fitch Ratings as the agency said the French reinsurer's past legacies are unlikely to return to haunt it.
  • Bermudian Argo Group International Holdings has appointed former Guy Carpenter CEO, David Spiller, to take the position of chairman at its recently acquired Lloyd's insurer Heritage Managing Agency plc.