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  • UK independent broker Heath Lambert has reported "steady and consistent progress" in half-year 2008 performance, despite the sale of its wholesale/reinsurance units over the period.
  • Catlin Group Ltd has posted a good set of results "distorted by poor investment returns that should wash through", according to one analyst.
  • Shares in Lloyd's (re)insurer Advent Capital leapt last week after the company effectively rejected a formal takeover approach from its largest shareholder, Fairfax Financial Holdings.
  • Marsh & McLennan Companies Inc (MMC) won plaudits last week for its restructuring initiatives after confirming that at least 2,000 jobs will be cut in 2008.
  • As the remainder of the (re)insurance industry's second quarter results trickle through in the coming weeks, a clear distinction is emerging between winners and losers in the sector against the backdrop of a soft market and the deepening credit crunch.
  • Willis Group Holdings has announced two senior appointments as part of an overhaul of its reinsurance arm, Willis Re.
  • Catlin Group Ltd's pre-tax profits fell by $40mn in the first half of 2008 in what one analyst has called a "mixed bag" of results for the Bermudian-headquartered (re)insurer.
  • Royal Bank of Scotland's up-for-sale insurance division said operating profits leapt from £258mn to £403mn at the half-year stage although revenues were down slightly on business distributed by brokers and partners.
  • Marsh & McLennan Companies Inc (MMC) has confirmed that at least 2,000 jobs will be cut in 2008 after announcing a further 900 positions will be axed.
  • Hannover Re's operating profit was down 14.4 percent in the first half of 2008 to EUR400mn after being hit by a 24.1 percent fall in investment income in the period as the German reinsurance giant missed analyst targets.