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  • Bermudian giant ACE Ltd has sought to reassure investors over the potential exposure of its investment portfolio to the sub-prime fallout.
  • Jardine Lloyd Thompson Group plc (JLT) has hired James Gerry to head up Thistle Underwriters Ltd (TUL), a new operation launched by the UK-listed broker.
  • The UK’s restrictive tax regime as well as proximity to the US market are key reasons for Lloyd’s (re)insurer Hardy Underwriting Group’s decision to redomicile to Bermuda, the company has explained.
  • Wendy Baker has resigned from her post as president of Lloyd's America to pursue other interests.
  • Critical issues surrounding the extension of the Terrorism Risk Insurance Act (TRIA) due to expire on 31 December need urgent attention if a bill is to be effective, according to a leading risk modelling firm.
  • UK run-off firm Randall & Quilter Investment Holdings (R&Q) will see trading in its shares begin later this week as it completes its initial public offering (IPO) on London Stock Exchange's Alternative Investment Market (AIM).
  • Aon Corp is selling its US property and casualty arm Combined Insurance Co to ACE Ltd for $2.4bn and has committed to returning all the proceeds to its shareholders.
  • Ratings agency Moody's Investors Service has placed the financial strength ratings (FSR) and subordinated debt rating on Hannover Re Group subsidiaries on review for possible upgrade.
  • Ironshore Inc - the Bermudian start-up insurer currently circling the quoted Lloyd's minnow Heritage Underwriting - has appointed the former Lloyd's chief executive Ron Sandler as chairman.
  • Catlin Group Ltd's Bermudian operating subsidiary has launched a new cat bond, Newton Re, providing $225mn of cover in two tranches for US wind and quake over a three year period.