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  • Acquisitive Lloyd's insurer Canopius has strengthened the reserves of Omega's Syndicate 958 by £27.8mn as it seeks to close the book on losses belonging to the old regime.
  • Zurich Insurance Group's Mike Kerner has been named the new CEO of general insurance at the P&C giant, with a seat on its group executive committee.
  • Shares in IPC Holdings fell sharply last week as the Bermudian cat reinsurer followed a profits warning earlier this month with confirmation last week of a second quarter net hits of $62.6mn and $50.1mn respectively from UK and Australian storms and flood
  • Rating agency Standard & Poor’s (S&P) have removed Bermudian energy mutual Oil Insurance Ltd (OIL) from CreditWatch with negative implications and affirmed its A-counterparty credit and financial strength ratings. The outlook is negative.
  • Transatlantic Holdings, the parent of Transatlantic Re, has announced 2005 net profits of $37.9mn, down from $254.6mn in 2004 after booking a fourth quarter net profit of $13.5mn, compared to $98.9mn in the prior-year period. Like many of its peers...
  • Bermudian (re)insurer ACE was the topic of much conversation last week as analysts published conflicting and, at times, controversial equity research on the company.
  • Last week’s Momart warehouse fire could cost fine art insurers more than £20-30mn in claims, Insider Week can reveal.
  • Lloyd’s insurer Hiscox became the latest carrier to warn over the slide in US D&O rates last week. Hiscox, which dipped a toe into the market following the sector’s significant rate rises in 2002, explained “this is a very small business for us and wil
  • Shares in US insurance giant Hartford Financial Services Group have slumped a further 15 percent today as investors react to fears over the company's exposure to troubled companies such as AIG and Washington Mutual.
  • Dick Grasso, who by most accounts did a good job of running the NYSE, was forced from his position because he was paid so much that it became an embarrassment to his organization and to the board of directors that paid him so much money. David D 'Aless