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Xchanging expands in Middle East
Processing giant Xchanging has signed a two-year outsourcing contract with Saudi Development and Training Company (SDT), the latest in a series of moves to grow its footprint.
13 July 2010
Zurich UK hit with record £2.3mn fine
UK watchdog the Financial Services Authority (FSA) last week levied a record £2.275mn fine on Zurich Insurance's UK branch for failing to keep client data secure.
31 August 2010
Lloyd’s M&A continues with Sagicor swoop
Sagicor joined its Caribbean rival Guardian Holdings Ltd in having a Lloyd’s presence after it acquired Gerling at Lloyd’s, and its Syndicate 1206, last week.
09 July 2007
AXA buys Greek insurer
AXA Group announced today (16 October) that it had agreed to acquire Greek insurer Alpha Insurance for EUR225mn.
16 October 2006
Seaton and Stonewall appeal jurisdiction ruling
The private equity backed run-off insurers Seaton Insurance Co and Stonewall Insurance Co have appealed against a decision earlier this month in a New York court which prevents them from pursuing a claim against a Randall & Quilter (R&Q) affiliate in the
27 May 2008
Novae shares trade down on poor Q2
Shares in Novae Group traded down last week after the Lloyd's insurer posted a £2.1mn loss for the first half, driven by a £26mn hit from aviation reinsurance and credit insurance claims...
03 August 2009
Arch ratings boosted
Ratings agency Standard & Poor's (S&P) has upgraded the insurer financial strength ratings on Arch Capital Group's insurance and reinsurance operating companies to A+ from A.
29 July 2010
Marsh resurgence continues with 3% organic growth
Marsh and McLennan Companies (MMC) reported a positive 6 percentage point swing in year-on-year third quarter organic revenue across its broking operations, turning a 3 percent decline in the same period of 2009 into 3 percent growth.
09 November 2010
TWIA reinsurance signed into law
Texas Governor Rick Perry has signed into law a bill (HB 4409) for restructuring the state's windstorm insurance fund, the Texas Windstorm Insurance Association (TWIA), and axing its $1.5bn reinsurance programme.
22 June 2009
Goldman Sachs pays $550mn CDO settlement
Goldman Sachs has agreed to pay $550mn to the Securities and Exchange Commission (SEC) to settle fraud charges that it defrauded investors over the sale of subprime mortgage products that cost its customers more than $1bn.
19 July 2010
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