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  • Lord Levene is adamant that he can continue to fulfil his responsibilities as Lloyd's chairman despite his new role as executive chairman of an unnamed start-up looking to muscle its way into the UK consumer banking sector.
  • French reinsurer SCOR has no "material" exposure to the US financial guarantee market and the monoline insurers that have been hit by the global credit crunch, the group revealed.
  • The key European Parliament vote on Omnibus II has been pushed back again by a month from October to 20 November.
  • A new wave of fear gripped Wall Street this week, symbolised by the sub-prime related exposures of the monoline credit insurers to a new credit crisis, dubbed "Version 2.0" by industry insiders.
  • Italian (re)insurer Generali looks to be well on the road to recovery as it announced EUR1,015mn 2003 net profits last week, compared to a 2002 loss of EUR754mn and ahead of the projected EUR931mn profit under its self-imposed three-year plan.
  • Non-life insurance stocks contain some risk, but more reward despite exposure to the sub-prime crisis and the downward pressure on rates, according to Standard & Poor's (S&P) analyst Tony Silverman.
  • Bermudian giant ACE Ltd reported a 46 percent drop in first quarter profits after it took a net realised investment loss of $480mn.
  • Paddy Jago, Aon Re's veteran US casualty specialist, resigned this month after 15 years with the company.
  • Insurance giant ZFS is mulling over a significant German acquisition, according to sources. The Zurich-headquartered firm – which has been widely tipped to participate in M&A activity this year – is thought to be considering a mid-tier...
  • But Kinnect CEO is upbeat on the venture’s longterm prospects... Business process reform in the Lloyd's market is still at a rudimentary stage and the situation is unlikely to improve within the next two to three years, the Franchise Board's Franchise