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  • Troubled Australian insurer Insurance Australia Group Ltd (IAG) has slumped to a A$261mn loss after taking a A$350mn charge in relation to the impairment of its UK assets.
  • Swiss Re has hired Alabama insurance commissioner Walter Bell as chairman of its US operations, Swiss Re America Holding Corporation.
  • Despite difficult conditions and the ongoing capital markets turmoil, underlying performance by European insurers in the first half of 2008 remained relatively strong, according to a report by Moody's Investors Service.
  • Ratings agency Moody's Investors Service has affirmed the A3 insurance financial strength (IFS) ratings of Flagstone Reinsurance Ltd and its Flagstone Reassurance Suisse SA following the firm’s move to centralise its operating platform in Switzerland.
  • Slow-moving Fay is expected to make a fourth landfall in Florida after becoming just the fourth storm in recorded history to hit the state's peninsula with tropical storm intensity three separate times.
  • 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.
  • Marsh & McLennan Companies Inc (MMC) has appointed Vanessa Wittman as the group's new CFO, ending its search to replace the outgoing Matthew Bartley.
  • Allianz has a 10 percent share of the slip for the Spanair McDonnell Douglas MD-82 that crashed at Madrid airport on Wednesday, claiming 153 lives.
  • Allianz has a 10 percent share of the slip for the Spanair McDonnell Douglas MD-82 that crashed at Madrid airport on Wednesday, claiming 153 lives.
  • Aon Corporation is set to buy London-listed Benfield Group in a £844mn deal cementing the Chicago-headquartered firm's position as the world's largest reinsurance broker.