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  • Giant reinsurer Swiss Re has signed an agreement to acquire some of UK life funds consolidator Resolution plc's life books from Standard Life plc for £2.35bn as it continues to build its Admin Re brand.
  • The four-month trial of three former Independent Insurance Group plc (IIG) executives ended with a successful conviction for the Serious Fraud Office (SFO) and a total of 14 years in jail sentences last week.
  • Leading US congressman Barney Frank has sent two bills to the Senate proposing the extension of the Terrorism Risk Act and the flood insurance programme in anticipation of the upper house’s stalling on the legislation.
  • Munich Re has bought the Lloyd’s insurer Beaufort Underwriting Agency Ltd through the acquisition of its parent company MSP Underwriting Ltd.
  • The threat of "economic populism" is one of the greatest challenges facing the US insurance industry, according to Property Casualty Insurers Association of America's (PCI) president and CEO David Sampson.
  • Willis Group Holdings improved both its top and bottom lines in its third quarter results, which were published last week.
  • John Charman will stay on as CEO and president of AXIS Capital Holdings Ltd for at least a further year after the Bermudian (re)insurer extended his contract to 31 December 2009.
  • Early-reporting (re)insurers and brokers posted a healthy set of third quarter results last week, reflecting a quiet US catastrophe year to date and boosted by increased retention rates and reserve releases, according to William Wilt, analyst at Morgan St
  • It may have been another benign year for US hurricanes, but IPCRe's international book means it has inevitably taken a number of hefty non-US catastrophe losses, not least from the UK summer floods.
  • Bank of Ireland Life has securitised EUR400mn of value-in-force (VIF) life insurance policies in the first rated European VIF transaction for almost three years, according to ratings agency Standard & Poor's (S&P).