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  • UK regulator Financial Services Authority (FSA) has fined a subsidiary of GoshawK £220,000 over breaches of FSA rules in 2002 and 2003. The fines were levied on GoshawK Syndicate Management Ltd, the company which managed GoshawK’s ill-fated...
  • Aon Benfield has teamed up with Ascot Underwriting to provide a new facility for Chile earthquake cover.
  • Mapfre became the second (re)insurer to lose a AA- rating status last week after ratings agency Fitch downgraded the Spanish (re)insurer’s core subsidiary insurer financial strength (IFS) rating...
  • Bermudian (re)insurer Aspen has replenished a $500mn share buyback programme as it declared a $280mn profit for 2012 after significantly expanding its insurance premium base during the year
  • The private equity owned run-off insurers Seaton Insurance Co and Stonewall Insurance Co have appealed against a New York court decision last month which prevents them from pursuing a claim against a Randall & Quilter (R&Q) affiliate in the US.
  • Bermudian headquartered Quanta Capital Holdings has parted company with its founding chief executive Tobey Russ.
  • 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.
  • Troubled Australian insurer Insurance Australian Group (IAG) has raised $450mn ($287mn) after warning that its first-half profits will be adversely impacted by the twin effects of this month's devastating bushfires in southern Australia which have killed killed some 200 people and adverse movements in investment income.
  • US insurer HCC Holdings, its former CEO Stephen Way, and its former General Counsel Christopher Martin have finally reached a settlement with the US regulatory authorities relating to a dispute alleging violations over stock-options backdating.
  • Stuart Shipperlee, the managing director of AM Best Europe, has resigned from the rating agency and is set to return to his former employer, Standard & Poor’s.