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  • Lloyd's (re)insurer Advent Underwriting Ltd lost its chief underwriting officer Lloyd Tunnicliffe to rival Kiln last week.
  • Standard & Poor's (S&P) has granted AAA ratings to Berkshire Hathaway's start-up bond insurer.
  • Malaysian reinsurer MNRB Holdings Berhad has announced it is to purchase a 9.99 percent stake in British Islamic Insurance Holdings Ltd (BIIH).
  • Brit Insurance's exposure to the AMC-14 satellite that failed to reach its planned orbit last month is limited to $12mn before reinsurance, according to Numis Securities analysts.
  • The management buy-out of Gallagher Re's Singapore subsidiary led by Richard Austen - as first revealed in The Insurance Insider in February - has been completed.
  • Analysts have welcomed reports that Russia’s largest bank Sberbank is considering buying Allianz unit Dresdner Bank’s investment banking business.
  • Guy Carpenter & Co is preparing to cut around 13 percent of its global workforce, as the reinsurance intermediary responds to the tough market conditions, The Insurance Insider can reveal.
  • Royal & SunAlliance (R&SA) has continued the disposal of its legacy business with the sale of two run-off portfolios in its Scandinavian subsidiary Codan to Wasa Run-Off.
  • Berkshire Hathaway has bought one million shares in German giant Munich Re in the last six months, according to reports.
  • A slump in underwriting results in the US property/casualty insurance industry dented its profitability last year, according to Insurance Services Office (ISO).