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  • A total of 259 sub-prime related lawsuits, alleging a variety of misdemeanours, have now been brought against firms in the US to date and have the potential to cause substantial claims against global insurers.
  • Lloyd's has sounded a warning over cycle management, with CEO Richard Ward demanding a "clear strategy" from the market to enable it to "maintain discipline and strength in the face of increasing competition".
  • As securities class actions against beleaguered investment bank Bear Stearns begin to mount, The Insurance Insider revealed that US insurer Chubb insures the first $15mn excess of $25mn layer of the bank's $75mn...
  • Berkshire Hathaway is under pressure from federal prosecutors to oust Joe Brandon, the CEO of its reinsurance subsidiary General Re, following criminal fraud convictions of four of his former colleagues earlier this year, according to reports.
  • The mining sector has hit a "watershed" following a spate of heavy losses accelerated by rising commodity prices that have decimated hard market profits.
  • But negotiations complicated by formula flaw that may benefit Ascot execs
  • A leading market figure is calling on Lloyd’s and the UK Government to tackle the Corporation’s complicated capital structure by further amending legislation governing the marketplace.
  • Prior-year reserve releases and healthy unearned premium balances were a dominant theme of the reporting season for Lloyd's-listed vehicles.
  • French bank Société Générale has vowed to mount a "vigorous defence" against a class action lawsuit accusing it of misleading investors and failing to clamp down on the EUR4.9bn "rogue trader" fraud.
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