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  • “Class of 2005” reinsurer Flagstone Re has been given the green light for its Middle Eastern operation, which will be based in Dubai.
  • Tysers has bucked the trend for small to mid-size London broker sales to larger rivals and private equity investors, after completing a management buyout transaction to secure its independence.
  • The Association of Insurance and Reinsurance Run-Off Companies’ (AIRROC) third annual Rendez-Vous began today (15 October) in New Jersey with a record number of delegates in attendance.
  • After spending more than two years behind bars after pleading guilty to offences that helped bring down Australian insurer HIH, Rodney Adler has been freed from prison.
  • Bermudian start-up insurer Ironshore Inc has appointed former Lloyd’s CEO Ron Sandler to its board.
  • Bermudian reinsurer Aspen Insurance Holdings Limited is to launch a global excess casualty underwriting unit based in Dublin.
  • The UK’s non-life run-off liabilities decreased 14 percent last year while Lloyd’s open year liabilities were down by more than 30 percent, according to the Association of Run-Off Companies’s (ARC)’s most recent survey.
  • Ratings agency Standard & Poor’s (S&P) has upgraded French insurer Groupama’s financial strength rating to A+ with stable outlook in response to the group’s increased operating performance, strong brand and its “readiness” to launch an initial public offe
  • Hiscox Ltd has announced that it will not renew its $360mn sidecar Panther Re for the 2008 year, taking the tally of sidecar capacity to be run-off this year to over $1bn.
  • Trading on the recently launched Insurance Futures Exchange Services (IFEX) platform saw prices drop dramatically Friday (12 October) on 2007 event-linked futures contracts as traders anticipated a benign end to the hurricane season.