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  • AXIS Insurance chairman Dennis Reding is to take up the position of chief operating officer at AXIS Capital as the Bermudian firm restructures.
  • The protracted saga of Cooper Gay's acquisition of Heath Lambert's wholesale units was finally completed as The Insurance Insider went to press with the transfer of some of the up-for-sale operations to the expanding (re)insurance broker.
  • AJ Gallagher said last week it had entered into a new $500mn unsecured credit facility to replace one expiring later this year.
  • MMC, the holding company for the resurgent Marsh and Guy Carpenter global (re)insurance broking operations, has reported Q3 consolidated revenue of $2.5bn – down 11 percent from the third quarter of 2008.
  • Swiss Re has moved to fill the position at the head of its insurance and specialty division vacated by newly anointed COO Agostino Galvagni.
  • After a flurry of excitement in the Lloyd's listed sector, advocates of consolidation among the market's players were dealt a blow this month, with the news that Amlin has walked away from its proposed bid for fellow Lloyd's vehicle Chaucer.
  • Flagstone Re suffered a year of heavy underwriting losses in 2010, driven by a high catastrophe toll, with the firm's annual operating income dropping 77.6 percent year-on-year to $43.6mn
  • Supporters of solvent schemes of arrangement have received a series of welcome boosts following July’s High Court refusal to approve the British Aviation Insurance Company (BAIC) scheme, citing concerns that some policyholders were not being given...
  • After five years at the helm of UK regulator the Financial Services Authority (FSA), Hector Sants has announced he will step down as CEO at the end of June.
  • Canada-based Sun Life Financial has agreed to sell its life reinsurance business to Warren Buffett's Berkshire Hathaway for an undisclosed sum.