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  • UK insurer Brit Holdings plc announced the creation of an independent underwriting advisory forum as part of a group restructure.
  • Markel Group has seen AM Best upgrade its financial strength rating on its London-based platform Markel International Insurance Co Ltd.
  • Connecticut’s attorney general, Richard Blumenthal, has issued 20 subpoenas as part of the continuing investigation into anti-competitive practices in the reinsurance industry.
  • Chaucer Syndicates Ltd has become the latest Lloyd’s insurer to cut back its stamp for next year, after confirming a planned 8.3 percent reduction in capacity for its Syndicate 1084.
  • In a volatile week for the global equity markets, Bermudian (re)insurer Validus Holdings made its debut on the New York Stock Exchange with shares priced at $22, below the $24-26 range it set at the beginning of the month.
  • Montpelier Re Holdings Ltd reported stable second quarter operating profits of $54mn as it took a $30.5mn hit from UK and Australian flood losses in the period, partially offset by reserve releases and an increase in investment income.
  • Retro specialist John Bassett has been linked with a return to reinsurance broker Guy Carpenter after parting company with Bermudian Montpelier Re, Insider Week sources can reveal.
  • London market reinsurers led by Allianz suffered a blow following a High Court decision in their controversial EUR44.3mn dispute with the North Korean state insurer.
  • Shares in Lloyd’s (re)insurer Beazley Group plc rose by around 6 percent this morning (30 July) as it reported a doubling of profits in the first half of 2007 on the back of income growth, low claims and rising investment income.
  • Resurgent UK insurer Royal & Sun Alliance Group saw its shares slide last week against a backdrop of fears over flood losses and jittery investors following the turmoil in the global credit markets.