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  • The money collected by PricewaterhouseCoopers (PwC), the administrators of the defunct UK insurer Folksam UK, outweighs the collections made on behalf of creditors by almost £2.5mn, the latest report to creditors reveals.
  • An Australian court has been told of the culture of "bravado and extravagance" at failed Australian insurance company HIH.
  • Amlin Bermuda (ABL) has been upgraded to A (Excellent) from A- (Excellent) by ratings agency AM Best after "conservative implementation" of its business plan and a strong performance from the group's Lloyd's syndicate.
  • 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
  • Brian O'Hara, president and CEO of Bermudian (re)insurer XL Capital announced last week that he will retire from the post in mid-2008, drawing the current chairman...
  • German insurance giant Allianz SE is expected to launch a new issue of European peril catastrophe bonds through a newly created vehicle, Blue Fin Ltd, Insider Week understands.
  • HSBC Insurance has launched a Dublin-based reinsurer to accept risks from the parent company’s banking customers.
  • Insurance specialists Edwards Angell Palmer & Dodge LLP (EAPD) and London-based Kendall Freeman are understood to be close to reaching a merger deal, sources suggest.
  • Giant reinsurer Swiss Re has signed an agreement to acquire some of Resolution plc’s life books from Standard Life plc for £2.35bn as it continues to build its Admin Re business.
  • The southern California wildfires, which have been raging across the region since 21 October, look set to cost (re)insurers between $900mn and $1.6bn in insured losses, according to the latest estimates from catastrophe modelling firm Risk Management Solu