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  • Benfield Group’s share price slumped in early trading today as the enervating effects of the weak dollar took its toll on the firm’s 2007 results.
  • Despite a heavier burden from natural catastrophes, Hannover Re saw operating profits rise 14 percent to EUR940mn, boosted by strong performance in its life and health division.
  • Disgraced “Sheriff of Wall Street” Eliot Spitzer has resigned as New York Governor over his links to a prostitution ring.
  • Embattled New York Governor Eliot Spitzer has been told he has just 48 hours to resign or face impeachment.
  • The US Federal Reserve has taken further strong action in a bid to ease fears of a freezing up of credit markets that has sent US financial stocks on a downward spiral in recent days, and led to fears of a squeeze on insurance linked securities (ILS) dema
  • Shares in Lloyd's insurer Heritage Underwriting Agency plc closed up 13 percent to 131.5p today (11 March), fuelled by strong results and takeover speculation.
  • Berkshire Hathaway Inc has exited its 16.3 percent stake in White Mountains Insurance Group Ltd in a deal that sees the Bermudian insurer pay $751mn in cash and transfer two of its run-off units to the investment giant.
  • American International Group Inc (AIG) has been admitted on the Irish Stock Exchange with a par value of $2.50 per share.
  • Federal excise taxes (FET) imposed on insurance and reinsurance purchased from foreign insurers and reinsurers will be applied each time the risk is ceded, US tax authority the Internal Revenue Service (IRS) ruled last week.
  • The major catastrophe modelling agencies are again disagreeing over the size of losses arising from an event with estimates of insured losses from European Windstorm Emma varying between EUR300mn and EUR1.3bn.