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  • Ratings agency Standard & Poor's (S&P) has revised its outlook to Positive from Stable for Bermudian Max Capital Group Ltd following the firm's increased diversification and strong capitalisation.
  • Embattled Security Capital Assurance Ltd (SCA) has fought back over its downgrade to junk status by Fitch Ratings, as analysts continue to warn over the knock-on impact on 46 percent owner XL Capital.
  • American International Group has filed a lawsuit against its former CEO and chairman Maurice "Hank" Greenberg as part of its long-running legal battle over ownership of shares in the US giant.
  • Alea group CFO and COO, Kirk Lusk, has resigned from the Bermudian-headquartered run-off company.
  • The Financial Services Authority (FSA) has admitted to failings in relation to the meltdown at Northern Rock and has pledged to improve its supervision levels.
  • The state of California is looking at the possibility of its pension funds creating a new municipal bond insurer as an alternative to existing players and Berkshire Hathaway’s start-up in the embattled sector.
  • Allied World Assurance Company Holdings Ltd (AWAC) has launched its $500mn US reinsurance platform with the endorsement of A and A- financial strength ratings from AM Best and Standard & Poor's (S&P) respectively.
  • Aspen Insurance Holdings Ltd has become the latest Bermudian to establish a Lloyd’s presence with the launch of start-up Syndicate 4711.
  • Fitch Ratings move to downgrade ratings on Security Capital Assurance Ltd (SCA) and its bond and financial guarantee (re)insurance subsidiaries to junk bond status may weigh on affiliated Bermudian (re)insurer XL Capital, according to analysts.
  • American International Group (AIG) has filed a lawsuit against its former CEO and chairman Maurice “Hank” Greenberg as part of its long-running legal battle over ownership of shares in the US giant.