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Aon replaces UK mid-market head
Robert Brown has been appointed head of Aon's UK mid market business following the exit of John Thornton - a role in a competitive sector...
28 January 2008
Lothian to leave Benfield
Andrew Lothian, a senior member of Benfield Group's accident and health specialty team, is set to leave the reinsurance broker.
28 January 2008
Alea forms RITC syndicate
Run-off (re)insurer Alea Group Holdings is set to add to Lloyd's growing reinsurance-to-cose (RITC) capacity after receiving conditional approval to set up Syndicate 2740.
28 January 2008
RenRe in $13.5mn settlement approval
A New York federal judge has approved a $13.5mn settlement to the securities class action launched by disaffected RenaissanceRe shareholders against the firm.
28 January 2008
Fitch downgrades bond insurer SCA
XL Capital's decision not to bail out Security Capital Assurance Ltd (SCA) and its financial guaranty insurance subsidiaries has led ratings agency Fitch to slash the bond insurer’s financial strength ratings from AAA to A.
28 January 2008
Sub-prime liability losses could escalate to $9bn
Bear Stearns analysts have trebled estimates for insured management and professional lines losses relating to the sub-prime crisis from $3bn to $8-9bn as notifications and class action lawsuits continue to mount.
25 January 2008
SocGen fraud unlikely to cause major insurance loss
The biggest fraud in investment banking history, at French bank Société Générale, is unlikely to translate into a large insured loss because it did not buy unauthorised trading cover, according to senior market sources.
25 January 2008
SCA ratings slashed to A by Fitch
Security Capital Assurance Ltd (SCA) and its financial guaranty insurance subsidiaries have had their insurer financial strength ratings slashed from AAA to A by Fitch Ratings after investors – including XL Capital – effectively decided against bailing ou
24 January 2008
Revived THB deal for PWS imminent
The takeover of PWS Holdings plc's Lloyd's business and overseas interests by specialist broker THB Group plc could be completed as early as today (24 January).
24 January 2008
Downgrade fears as XL takes up to $1.7bn sub-prime charge
Troubled Bermudian XL Capital said last night it expects to book up to $1.7bn in after tax fourth quarter charges related to the sub-prime fallout when it reports its financials next month.
24 January 2008
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